Rhode Island H7448 caps real property revaluation increases at 20% starting December 31, 2026.

Rhode Island H7448 amends the General Laws to place a cap of twenty percent (20%) on increases in consecutive revaluations of real property in all cities and towns conducting revaluations. This cap will apply starting December 31, 2026, and every December thereafter. The bill specifies that the cap applies to all revaluations performed in accordance with the law, ensuring that property values do not increase by more than 20% from the last previous revaluation. This act is designed to stabilize property tax assessments and ensure fairness in property revaluations across the state.

Rhode Island H7448 caps real property revaluation increases at 20% starting December 31, 2026.

Rhode Island H7448 amends the General Laws to place a cap of twenty percent (20%) on increases in consecutive revaluations of real property in all cities and towns conducting revaluations. This cap will apply starting December 31, 2026, and every December thereafter. The bill specifies that the cap applies to all revaluations performed in accordance with the law, ensuring that property values do not increase by more than 20% from the last previous revaluation. This act is designed to stabilize property tax assessments and ensure fairness in property revaluations across the state.