Makes certain technical amendments /clarifications to the statutes relating to the assessment of real property and the timing and process to appeals thereof.
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.
Restricts increases in monthly common expenses and limit special assessments to cover unforeseen costs not included in the association’s approved annual budget for common expenses in associations where the minority of the units are deed restricted units.
Places a cap of twenty percent (20%) on increases in consecutive revaluations of real property in all cities and towns conducting revaluations commencing December 31, 2024, and every December 31 thereafter.
Makes certain technical amendments /clarifications to the statutes relating to the assessment of real property and the timing and process to appeals thereof.