Authorizes the town of Bristol to apply the owner-occupied tax rate for mixed-used properties where the residential portion is owner-occupied.

## Summary of the Bristol Mixed-Use Property Tax Bill

This bill gives the town of Bristol, Rhode Island, the authority to offer a tax break to owners of mixed-use properties — buildings that combine both commercial and residential space, such as a storefront on the ground floor with an apartment above — when the owner lives in the residential portion of the property. Specifically, it would allow Bristol to apply the lower "owner-occupied" tax rate to these mixed-use properties, rather than a higher tax rate that might otherwise apply.

Many Rhode Island towns charge different property tax rates depending on the type of property. Owner-occupied homes often receive a lower rate than rental properties, commercial buildings, or other property types. Currently, owners of mixed-use buildings in Bristol who live in the residential part of their property may not qualify for the lower owner-occupied rate because their building isn't purely residential. This bill changes that by letting the town extend the favorable rate to these property owners.

The bill primarily affects property owners in Bristol who live in mixed-use buildings. If the town chooses to implement this option, those property owners could see lower tax bills. It's important to note that the bill *authorizes* Bristol to apply this rate — it doesn't require the town to do so. The decision would ultimately rest with Bristol's local government. The bill has passed both chambers of the Rhode Island legislature and has been sent to the governor for consideration.