It is enacted by the General Assembly as follows:

SECTION 1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local Taxes" is hereby amended by adding thereto the following section.

{ADD 44-5-13.15. Assessment and taxation of new real estate construction in North Providence. -- ADD} {ADD (a) Completed new construction of real estate in North Providence completed after any assessment date shall be liable for the payment of municipal taxes from the date the certificate of occupancy is issued or the date on which the new construction is first used for the purpose for which it was constructed, whichever is earlier, prorated for the assessment year in which the new construction is completed. The prorated tax shall be computed on the basis of the rate of tax applicable with respect to the property, including the applicable rate of tax in any tax district in which the property is subject to tax following completion of the new construction, on the date the property becomes liable for the prorated tax in accordance with this section. ADD}

{ADD (b) The building inspector issuing the certificate shall, within ten (10) days after issuing the certificate, notify, in writing, the assessor of the issuance of the certificate of occupancy. ADD}

{ADD (c) Not later than ninety (90) days after receipt by the assessor of the notice from the building inspector or from a determination by the assessor that the new construction is being used for the purpose for which it was constructed, the assessor shall determine the increment by which the assessment for the completed construction exceeds the assessment on the tax roll for the immediately preceding assessment date. The assessor shall prorate the amount from the date of issuance of the certificate of occupancy or the date on which the new construction was first used for the purpose for which it was constructed, as the case may be, to the assessment date immediately following and shall add the increment as so prorated to the tax roll for the immediately preceding assessment date and shall within five (5) days notify the record owner as appearing on the tax roll and tax collector of the additional assessment. ADD}

{ADD (d) Any person claiming to be aggrieved by the action of the assessor hereunder may appeal the doings of the assessor to the assessment board of review within sixty (60) days from notification of the additional assessment or to superior court as provided. ADD}

{ADD (e) Upon receipt of the notice from the assessor, the tax collector shall, if the notice is received after the normal billing date, within ten (10) days thereafter mail or hand a bill to the owner based upon an amount prorated by the assessor. The tax shall be due and payable and collectible as other municipal taxes and subject to the same liens and processes of collection; provided that the tax shall be due and payable in an initial or single installment due and payable not sooner than thirty (30) days after the date the bill is mailed or handed to the owner, and in any remaining, regular installments, as they are due and payable, and the several installments of a tax so due and payable shall be equal. ADD}

{ADD (f) Nothing herein shall be deemed to authorize the collection of taxes twice in respect of the land upon which the new construction is located. ADD}

{ADD (g) This section shall only apply to taxes levied and property assessed in the town of North Providence. ADD}

SECTION 2. This act shall take effect upon passage.