Rhode Island H8017 modifies the assessment for residential properties with affordable housing units.

Rhode Island H8017 changes the assessment for residential properties where at least 40% of the dwellings are affordable to households at or below 80% of the statewide median income and at least 30% are affordable to households at or below 60% of the statewide median income. The tax on these properties will be eight percent of the property’s previous year's gross scheduled rental income or a lesser percentage determined by each municipality. This change applies to properties that have been issued an occupancy permit after January 1, 1995, and have been substantially rehabilitated.

Rhode Island H8017 modifies the assessment for residential properties with affordable housing units.

Rhode Island H8017 changes the assessment for residential properties where at least 40% of the dwellings are affordable to households at or below 80% of the statewide median income and at least 30% are affordable to households at or below 60% of the statewide median income. The tax on these properties will be eight percent of the property’s previous year's gross scheduled rental income or a lesser percentage determined by each municipality. This change applies to properties that have been issued an occupancy permit after January 1, 1995, and have been substantially rehabilitated.