| Chapter 065 |
| 2021 -- S 0831 Enacted 06/25/2021 |
| A N A C T |
| RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES |
Introduced By: Senator Jessica de la Cruz |
| Date Introduced: April 23, 2021 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. Section 44-5-55.2 of the General Laws in Chapter 44-5 entitled "Levy and |
| Assessment of Local Taxes" is hereby repealed. |
| 44-5-55.2. Burrillville -- Tax levy and stabilization. [As added by P.L. 2020, ch. 50, § |
| 2.] |
| The town of Burrillville is authorized to establish by ordinance a process to stabilize tax |
| assessments and 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, the 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 substandard may be eligible |
| for either a tax stabilization 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 pursuant to § 44-5-1. The ordinance shall also include a process for |
| an applicant to apply and qualify for the tax stabilization or tax credits. |
| SECTION 2. This act shall take effect upon passage. |
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| LC002667 |
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