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June 6, 2006

Senate has bill to lower property tax cap

PROVIDENCE -- The Senate Finance Committee this afternoon is to debate a plan to limit the amount cities and towns can increase property taxes.

Current state law caps annual property tax increases at 5.5 percent, though exceptions may be granted by the state auditor general.

Senate Bill 3050 would reduce the percentage increase to 5.25 percent in 2008 and to 4 percent in 2013.

The committee is scheduled to consider the bill at 4:15 p.m.

Posted by Steve Peoples  at 2:36 PM | Permalink

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