Chapter 463

2007 -- S 1092

Enacted 07/05/07

A N A C T

RELATING TO TAXATION - LEVY AND ASSESSMENT OF LOCAL TAXES

Introduced By: Senators Tassoni, Cote, and P Fogarty

Date Introduced: June 08, 2007

It is enacted by the General Assembly as follows:

     SECTION 1. Sections 44-5-20.19 and 44-5-20.20 of the General Laws in Chapter 44-5

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

44-5-20.19. North Smithfield -- Property tax classification -- List of ratable property.

– (a) Upon adoption of a system of classification of taxable property by the town of North

Smithfield, all ratable property in the town of North Smithfield shall be classified by the assessor

as follows:

(1) Class 1: All ratable real estate.

(2) Class 2: All tangible personal property and all motor vehicles and trailers subject to

the excise tax created by chapter 34 of this title.

(1) Class 1: all residential real estate, which consists of not more than five (5) dwelling

units and all residential real estate that consists of six (6) dwelling units in which at least one unit

is owner-occupied. Class 1 includes all mobile/manufactured homes;

(2) Class 2: all commercial and industrial real estate and all residential real estate which

consists of six (6) dwelling units in which no units are owner-occupied and all residential real

estate which consists of more than six (6) dwelling units;

(3) Class 3: all ratable tangible personal property;

(4) Class 4: all motor vehicles and trailers subject to the excise tax created by chapter 34

of this title.

(b) Where real property is used or held for more than one purpose and the uses result in

different classifications, the assessor shall allocate to each classification the percentage of true

and fair cash value to the property devoted to each use.

(c) Notwithstanding any provisions of section 44-5-11.8, the tax rates applicable to

wholesale and retail inventory within Class 3 as defined in subsection (a) of this section are

governed by section 44-3-29.1.

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

of this section are governed by section 44-34.1-1.

44-5-20.20. North Smithfield -- Property tax classification -- Duties of assessor. -- (a)

The assessor of the town of North Smithfield, on or before June 1 each year, shall make a 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) The assessor shall apply different rates of taxation against Class 1 and Class 2

property to each property class as set forth in section 44-5-20.19 to determine the tax due and

payable on the property; provided, however, the rate for each class shall be uniform. within each

class; and for each year, Class 2 property rates shall not be more than one hundred fifty percent

(150%) of Class 1 property tax rates, and Class 3 property rates shall not be more than two

hundred twenty-five percent (225%) of the maximum allowable Class 2 property rates.

     SECTION 2. This act shall take effect upon passage.

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LC03251

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