RELATING TO TAXATION - - LEVY AND ASSESSMENT OF LOCAL TAXES
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Introduced
By: Senator J. Michael Lenihan |
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Date
Introduced: January 02, 2002 |
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It is enacted
by the General Assembly as follows:
SECTION
1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local
Taxes" is hereby amended by adding thereto the following section:
44-5-76. Reduction in
assessed value of real estate upon removal of damaged structure -- East
Greenwich. - (a)
Whenever a structure in the town of East Greenwich is damaged so as to require
total reconstruction and following which, the owner provides for complete
demolition of the structure with the material from the demolition being removed
from the parcel of real property on which the structure was situated or used as
fill on the parcel for purposes of grading, the parcel shall be assessed for
purposes of property tax as of the date the demolition, removal, and grading
are completed to the satisfaction of the building official, and the assessment
shall reflect a determination of the assessed value of the parcel, exclusive of
the assessed value of the structure so damaged, demolished, and removed.
(b) The
adjusted assessment is applicable with respect to the parcel from the date
demolition, removal, and grading are completed, as determined by the building
official, until the thirty-first (31st) day of December next
succeeding and the assessment of the parcel for the assessment year in which
demolition, removal, and grading are completed shall be adjusted accordingly by
the assessor. Any excess tax resulting from the adjusted assessment shall be
abated by the town council.
(c) This
section is not applicable in the event of disasters such as, but not limited
to, erosion or demolition resulting from floods or hurricanes. In addition, the
East Greenwich town council is authorized to suspend this tax abatement policy
for any year in which so many structures within the town of East Greenwich are
damaged that granting reduced assessments would, in the sole judgment of the
town council, jeopardize the fiscal integrity of the town of East Greenwich.
(d) This
section applies only to assessments and taxes in the town of East Greenwich.
SECTION 2. This act shall take effect
upon passage.