Chapter 053
2020 -- H 7851
Enacted 06/26/2020

A N   A C T
RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Introduced By: Representatives Place, and Newberry
Date Introduced: February 26, 2020

It is enacted by the General Assembly as follows:
     SECTION 1. Section 44-5-55.1 of the General Laws in Chapter 44-5 entitled "Levy and
Assessment of Local Taxes" is hereby amended to read as follows:
     44-5-55.1. Burrillville -- Tax assessment stabilization Burrillville -- Tax levy
assessment stabilization.
     The town of Burrillville is authorized to establish by ordinance a process to stabilize tax
assessments for improvements made to certain properties located in areas of town that have been
designated substandard in and pursuant to the land use chapter of the town's comprehensive plan.
Specifically, said ordinance shall provide that any exterior improvements made to any
commercial, industrial, and/or mixed use buildings located in areas that have been identified as
substandard areas as aforesaid shall not be subject to any increase in the tax assessment levied
against said property directly related to and because of said improvement. Such prohibition
against an increase in the tax assessment based upon these improvement shall be in place for a
period not to exceed ten (10) years from the date on which the work on the improvements shall
have begun. The ordinance shall also include a process for an applicant to apply and qualify for
said tax stabilization.
     The town of Burrillville is authorized to establish by ordinance a process to stabilize tax
assessments and/or provide tax credits for physical improvements made to certain properties
located in areas of town that have been designated substandard by the town’s comprehensive plan
or as may be separately designated by the town council. Specifically, said ordinance shall provide
that physical improvements made to any commercial, industrial, mixed use buildings, and
apartment houses with six (6) or more legal units located in areas that have been designated may
be eligible for tax stabilization and/or a tax credit against their real estate tax levy as set forth in
the town’s ordinance. The stabilization granted or tax credit based upon these improvements shall
be in place for a period not to exceed ten (10) years from the date on which the work on the
improvements shall have been completed. All improvements made to the property will be
assessed accordingly as of December 31 of each year per § 44-5-1. The ordinance shall also
include a process for an applicant to apply and qualify for said credits.
     SECTION 2. This act shall take effect upon passage.
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LC004403
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