Chapter 309

2016 -- S 3094 Enacted 07/02/2016

A N   A C T

RELATING TO TAXATION

Introduced By: Senator Stephen R. Archambault

Date Introduced: June 17, 2016

It is enacted by the General Assembly as follows:

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

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

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

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

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

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

shall be uniform.

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

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

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

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

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

SECTION 2. This act shall take effect upon passage.

========

LC006222

========