Rhode Island H7568 allows cities or towns to waive interest on overdue commercial property taxes.

Rhode Island H7568 amends the General Laws to allow cities or towns to waive interest on one quarter's overdue property tax payment for commercial properties. This waiver can be authorized by ordinance and is subject to specific conditions, including that the property has been the taxpayer's residence or commercial property for five years, the request for a waiver is in writing, the taxpayer has made timely payments for the preceding five years, and the overdue tax bill was issued less than two years prior. The waiver cannot exceed $500.

Rhode Island H7568 allows cities or towns to waive interest on overdue commercial property taxes.

Rhode Island H7568 amends the General Laws to allow cities or towns to waive interest on one quarter's overdue property tax payment for commercial properties. This waiver can be authorized by ordinance and is subject to specific conditions, including that the property has been the taxpayer's residence or commercial property for five years, the request for a waiver is in writing, the taxpayer has made timely payments for the preceding five years, and the overdue tax bill was issued less than two years prior. The waiver cannot exceed $500.