2016 -- H 8166

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LC005908

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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: Representatives Winfield, and Costantino

     Date Introduced: May 05, 2016

     Referred To: House Municipal Government

     It is enacted by the General Assembly as follows:

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

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

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

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

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

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the assessed valuation of each property class.

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

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

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

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shall be uniform.

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

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

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

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

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

 

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     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

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tax classification for the town.

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     This act would take effect upon passage.

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