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

HB 6216 proposes to grant the town of Jamestown an exemption from the state's four percent property tax levy cap. This would allow Jamestown to increase its total property tax revenue by more than the standard four percent annually. The exemption is contingent on the town continuing to use a financial town meeting, where voters must approve any proposed levy increase that exceeds the cap. This bill directly affects the town of Jamestown's local taxation authority and its property owners.