Rhode Island S2453 allows cities and towns to waive interest on overdue commercial property taxes.

Rhode Island S2453 amends the General Laws to allow cities and towns to waive interest on one quarter’s overdue property tax payment for commercial properties. This waiver can be granted if the property has been commercial for five years, the taxpayer has made timely payments for five years, and the request is in writing. The waiver cannot exceed $500 and applies only to taxes issued less than two years prior. The tax collector’s decision must be in writing and can be appealed to the city or town council.

Rhode Island S2453 allows cities and towns to waive interest on overdue commercial property taxes.

Rhode Island S2453 amends the General Laws to allow cities and towns to waive interest on one quarter’s overdue property tax payment for commercial properties. This waiver can be granted if the property has been commercial for five years, the taxpayer has made timely payments for five years, and the request is in writing. The waiver cannot exceed $500 and applies only to taxes issued less than two years prior. The tax collector’s decision must be in writing and can be appealed to the city or town council.