Each year, Tiverton’s assessor lists property values and tax rates, and the town may set different rates for different property classes.
Tiverton may set different tax rates for different property classes, including homes, businesses, and personal property. Rates must be the same within each class.
Tiverton may set different tax rates for different property classes. The classes include smaller homes and open space; business and larger residential property; tangible personal property; vehicles and trailers subject to the referenced excise tax; and mobile homes on leased land, which use the state rate. Rates must be the same for all properties within each class. For homes with five or fewer units, Tiverton may provide a homestead tax break or instead set separate rates for owner-occupied and non-owner-occupied property. The law took effect upon passage.
No hearings or votes scheduled.