Allows the town of Tiverton to apply different tax rates to all classes of property.

Plain-English Summary

This bill gives the town of Tiverton, Rhode Island, the legal authority to charge different property tax rates depending on the type of property being taxed. Under current law, there are limits on how towns can apply varying tax rates across different categories of property. This bill creates a specific exception for Tiverton, allowing the town to set separate rates for different classes of property, such as residential homes, commercial buildings, or other types of real estate.

In practice, this means Tiverton's local government would have more flexibility when setting its annual tax rates. For example, the town could choose to tax commercial or industrial properties at a different rate than single-family homes, or apply unique rates to other property categories. This kind of "split rate" or "classified" tax system is already used by some other Rhode Island communities, and this bill would extend that option to Tiverton.

The people most directly affected are Tiverton property owners and local businesses, since the tax rates they pay could change depending on how the town decides to use this new authority. It is important to note that this bill does not itself set any specific tax rates — it simply gives Tiverton the *option* to differentiate rates if town officials choose to do so through the normal local budget and tax-setting process. Tiverton residents and business owners may want to follow future town budget discussions to see how this flexibility might be applied.