Rhode Island S3315 allows Coventry to divide property tax levies between residential and commercial properties.

Rhode Island S3315 authorizes the town of Coventry to apportion its property tax levy proportionately between residential and commercial properties. The bill defines three classes of property: residential real estate with up to five units, commercial and industrial real estate, and all other tangible personal property. The town assessor must annually determine the valuation of each property class and set tax rates to achieve the desired tax levy distribution. This act takes effect retroactively to December 31, 2025.

Rhode Island S3315 allows Coventry to divide property tax levies between residential and commercial properties.

Rhode Island S3315 authorizes the town of Coventry to apportion its property tax levy proportionately between residential and commercial properties. The bill defines three classes of property: residential real estate with up to five units, commercial and industrial real estate, and all other tangible personal property. The town assessor must annually determine the valuation of each property class and set tax rates to achieve the desired tax levy distribution. This act takes effect retroactively to December 31, 2025.