Enables the town of Portsmouth to adopt, repeal, or modify their tax classification plan for any tax year on and after December 31, 2026.

Plain-English Summary

This bill gives the town of Portsmouth, Rhode Island, more flexibility in how it handles its property tax classification system. Under Rhode Island law, municipalities can divide properties into different categories — such as residential, commercial, and industrial — and potentially tax them at different rates. This bill would allow Portsmouth to adopt a new tax classification plan, get rid of an existing one, or make changes to their current plan for any tax year starting December 31, 2026 and beyond.

Currently, there may be restrictions on when or how Portsmouth can make these kinds of changes to its tax structure. This bill essentially removes or works around those limitations, giving the town's local government more control and timing flexibility over how different types of property are taxed within its borders.

The people most directly affected are Portsmouth property owners — including homeowners, landlords, and business owners — since any changes to the town's tax classification plan could affect how much they owe in property taxes depending on what category their property falls into. Local government officials in Portsmouth would also be affected, as they would gain new authority to shape the town's tax policy. The bill has passed the House and is currently moving through the Senate, where it has been recommended for passage.