Rhode Island H8473 allows Cranston a one-year levy cap exemption for fiscal year ending June 30, 2027, not to exceed 7.45%.

Rhode Island H8473 amends the General Laws to permit the city of Cranston a one-year levy cap exemption for the fiscal year ending June 30, 2027, not to exceed seven and forty-five hundredths percent (7.45%). This exemption allows Cranston to exceed the standard property tax levy cap for one fiscal year, providing flexibility in managing its tax revenue. The bill takes effect upon passage.

Rhode Island H8473 allows Cranston a one-year levy cap exemption for fiscal year ending June 30, 2027, not to exceed 7.45%.

Rhode Island H8473 amends the General Laws to permit the city of Cranston a one-year levy cap exemption for the fiscal year ending June 30, 2027, not to exceed seven and forty-five hundredths percent (7.45%). This exemption allows Cranston to exceed the standard property tax levy cap for one fiscal year, providing flexibility in managing its tax revenue. The bill takes effect upon passage.