AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

HB 7701 removes state-owned property from the list of assets exempt from local property taxes. This change directly affects state government buildings, offices, and land previously excluded from local tax assessments. The bill amends Section 44-3-3 of Rhode Island's tax code by deleting the exemption for "property belonging to the state" from the list of tax-exempt properties. As a result, state-owned properties will now be subject to local property tax payments, aligning them with other non-exempt properties in the community. This is a direct policy change to tax treatment, not a procedural or commemorative measure.