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

SB 2576 allows the town of Tiverton to apply different tax rates to five defined property classes, directly affecting local homeowners, businesses, and property owners. The bill creates categories including residential properties (with optional homestead exemptions), commercial/industrial real estate, personal property, and mobile homes, requiring uniform rates within each class. This change gives Tiverton flexibility to adjust tax burdens across property types while maintaining consistent application within each category.