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

SB 1009 allows towns like New Shoreham to create tax classification plans for different property types (e.g., residential, commercial, vehicles) with specific rate limits. It requires that tax rates for most property classes cannot exceed rates for other classes by more than 50%, except in limited cases like Providence or Glocester. Towns must document rate changes to avoid reducing overall tax revenue after revaluations, and some towns (like Middletown and Scituate) have special rules for their existing tax structures. The bill directly affects local governments by setting boundaries for how they structure property tax rates, ensuring consistency and preventing disproportionate burdens. It does not create new taxes but establishes procedural rules for existing local tax systems.