2016 -- S 3094

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2016

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A N   A C T

RELATING TO TAXATION

     Introduced By: Senator Stephen R. Archambault

     Date Introduced: June 17, 2016

     Referred To: Placed on Senate Calendar

     It is enacted by the General Assembly as follows:

     SECTION 1. Section 44-5-20.16 of the General Laws in Chapter 44-5 entitled "Levy and

Assessment of Local Taxes" is hereby amended to read as follows:

     44-5-20.16. Smithfield -- Property tax classification and valuation. -- (a) The assessor

of the town of Smithfield, on or before June 1 of each year, shall make full and fair cash valuation

of all the estate, real and personal, and motor vehicles subject to taxation, herein, and determine

the assessed valuation of each property class.

      (b) Class 1 and Class 2: The assessor shall apply different rates of taxation against Class

1 residential real estate and Class 2 commercial estate, in accordance with §44-5-11.8, to

determine the tax due and payable on the property; provided, however, the rate for each class

shall be uniform.

     (c) Class 3: All ratable, tangible personal property shall be capped at the 2017 tax rate

and not increased until which time the rate is not greater than twice the rate applicable to any

other class in accordance with §44-5-11.8.

     (d) Class 4: The tax rates applicable to motor vehicles within Class 4, as defined in

subsection (b) of this section, are governed by §44-34.1-1.

     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION

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     This act would authorize the town of Smithfield to implement a four (4) class system of

tax classification for the town.

     This act would take effect upon passage.

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