AN ACT RELATING TO TAXATION - LEVY AND ASSESSMENT OF LOCAL TAXES

HB 7045 authorizes the town of Bristol to apply its owner-occupied residential tax rate to mixed-use properties where the residential portion is owner-occupied, rather than the higher commercial rate. This directly affects Bristol property owners with properties combining residential and commercial use (like a home with a small storefront), potentially lowering their tax burden. The bill amends tax classification rules to allow Bristol to treat these properties as residential for tax purposes under specific conditions. It does not change tax rates for other towns or property types.