Chapter 048

2003 -- S 1004

Enacted 06/25/03

A N A C T

RELATING TO TAXATION - LEVY AND ASSESSMENT OF THE LOCAL TAXES

Introduced By: Senators Badeau, and Cote

Date Introduced: April 09, 2003

It is enacted by the General Assembly as follows:

     SECTION 1. Sections 44-5-74.2 and 44-5-75 of the General Laws in Chapter 44-5

entitled "Levy and Assessment of Local Taxes" are hereby amended to read as follows:

44-5-74.2. Valuation of ratable property -- Woonsocket. -- (a) The assessor of the city

of Woonsocket on or before June 1 of each year shall make a full and fair cash valuation of all the

estate, real and personal, including motor vehicles and trailers, subject to taxation and determine

the assessed valuation of each property class.

      (b) The assessor has the authority to apply different rates of taxation against Class One,

Class Two, and Class Three property to determine the tax due and payable on the property,

provided, that the rate of taxation is uniform within each class. Additionally, the rate of taxation

for Class Three property shall never be greater than thirty-four and two-tenths percent (34.2%) of

the total tax levy produced by Class Two and Class Three combined one hundred fifty percent

(150%) of the rate for Class Two property. When real property is used for mixed purposes the

applicable rate shall be applied to the proportionate amount of the real property used for each

purpose.

44-5-75. Homestead exemption -- Woonsocket. -- (a) The mayor, upon approval of the

city council of the city of Woonsocket, is authorized to annually fix the amount, if any, of a

homestead exemption with respect to assessed value from local taxation on taxable real property

used for residential purposes in the city of Woonsocket and to grant homestead exemptions to the

owner(s) of that residential real estate in amounts not to exceed the following percentages:

      (1) Single family and condominiums -- Thirty five forty-five percent (35%)(45%)

exemption;

      (2) Two (2) family -- Twenty Twenty-five percent (20%)(25%) exemption;

      (3) Three (3) family -- Five Fifteen percent (5%)(15%) exemption;

      (4) Four (4) to Ten (10) family -- No homestead exemption.

      (b) Any homestead exemption only applies to residential property improved with a

dwelling house. There shall be no homestead exemption granted for vacant land or for the

residential portion of mixed use property in the city of Woonsocket, regardless of the number of

units used for residential purposes. In order to determine compliance with the homestead

exemption as outlined in this section, the city council shall provide by resolution or ordinance

rules and regulations governing eligibility for the exemption established by this section.

      (c) The city council of the city of Woonsocket may provide for a proration of the

homestead exemption in cases where title to property passes from those not entitled to the

exemption to those who are entitled to claim the exemption.

     SECTION 2. This act shall take effect upon passage.

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LC02987

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