Provides that the tax rate for Class 1 and Class 2 property be uniform and set to the same percentage.
Impact
If passed, the enactment of H6320 would significantly alter the existing property tax framework within Warwick. The bill requires assessors to make full and fair cash valuations of all taxable estate, ensuring that tax rates are consistent across classifications. Supporters of the bill argue that it will enhance fairness in the taxation process by eliminating discrepancies between different property classes, thereby improving taxpayer equity and potentially simplifying the administrative burden for local government entities.
Summary
House Bill H6320 seeks to amend the process of property tax classification in the city of Warwick, Rhode Island. The primary goal of the bill is to enforce uniform tax rates for Class 1 and Class 2 properties, ensuring that they are set to the same percentage. Introduced by Representatives McNamara, Shekarchi, Hopkins, Bennett, and Shanley, the act is intended to provide clarity and consistency in property tax assessments, thereby simplifying the responsibilities of local assessors.
Contention
Despite its objective of unifying tax rates, H6320 may face scrutiny from various stakeholders. Critics could argue that varying property types have different impacts on the community, and a one-size-fits-all tax rate may not accurately reflect the value or usage of certain properties. Concerns may also arise about the retroactive application of the bill to previously assessed valuations, which might complicate fiscal planning for both the local government and property owners. These elements of the bill could catalyze debates regarding the balance between tax equity and the tailored needs of diverse property classifications.
Provides that the city of Warwick, no separate class or zoning district would be assigned/designated based solely on a scenic view, and no property in a particular class or zoning district would be assessed at an increased rate from other properties.
Amends provisions relative to the levy and assessment of local taxes and would provide that the city of Providence may adopt a tax classification with unrestricted tax rates for certain classes of property.
Amends provisions relative to the levy and assessment of local taxes and would provide that the city of Providence may adopt a tax classification with unrestricted tax rates for certain classes of property.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under § 44-5-13.1 relating to taxation of low-income housing.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under § 44-5-13.1 relating to taxation of low-income housing.
Includes non-owner-occupied residential properties used for short-term rentals for tourist or transient use to be assessed as Class 2 properties on or after the assessment date of December 31, 2024.