AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

HB 6162 grants the City of Providence a one-year exemption from standard property tax levy limits for fiscal year 2026, allowing a maximum 8% tax increase instead of the usual 4% cap. This exemption applies specifically to Providence's property tax levies during FY2026, directly affecting residents and property owners in the city through their local tax bills. The bill modifies existing tax levy rules (which generally cap annual increases at 4% for most cities) to provide this temporary, targeted exception. No other cities or towns are affected by this provision, and the exemption applies only to the 2026 fiscal year.