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

HB 6320 requires that in the city of Warwick, the tax rate for Class 1 property (typically residential) cannot be less than 57% of the tax rate for Class 2 property (typically commercial). This establishes a fixed ratio between the two property classes, ensuring Class 1 rates are proportionally lower but not arbitrarily set. The bill directly affects property owners in Warwick, as it governs how local property taxes are classified and applied by the city assessor. It applies retroactively to the December 31, 2024, property assessment and became law without the Governor's signature on June 18, 2025.