Chapter473
2008 -- H 7147
SUBSTITUTE A
Enacted 07/05/08
A N A C T
RELATING
TO TAXATION -- REAL ESTATE
Introduced
By: Representatives Gemma, Picard, Flaherty, McNamara, and Naughton
Date
Introduced: January 16, 2008
It is enacted by the General Assembly as
follows:
SECTION 1. Section
44-5-67.3 of the General Laws in Chapter 44-5 entitled "Levy and
Assessment of Local Taxes" is hereby
amended to read as follows:
44-5-67.3. Warwick
-- Reduction in assessed value of real estate upon removal of
damaged buildings. Warwick -- Reduction in
assessed value of real estate upon demolition
of buildings. -- (a) Whenever a building
is demolished and the refuse is removed from the
property, the tax assessor shall reassess the
property to reflect removal of the building, and the
new assessment shall be effective as of the date
the building official confirms that the demolition
is complete. damaged as to require total
reconstruction before it may be used for any purpose
related to its use prior to the damage and following which,
the owner provides for complete
demolition of the building with the material
from demolition being removed from the parcel of
real property on which the building 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 inspector, and the
assessment shall reflect a determination of the
assessed value of the parcel, exclusive of the
assessment value of the building 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 inspector, until
the thirty-first (31st) day of December next
succeeding. and the amount of property tax payable
with respect to the parcel for the assessment
year in which demolition, removal, and grading are
completed is adjusted accordingly in the manner
determined by the assessor.
(c) This section
is not applicable in the event of natural disasters such as, but not limited
to, erosion or demolition resulting from floods
or hurricanes.
(d) This section
applies only to assessments and taxes in the city of Warwick.
SECTION 2. This
act shall take effect upon passage.
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LC00533/SUB A
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