Chapter 635

2006 -- S 2315

Enacted 07/14/06

A N A C T

RELATING TO LEVY AND ASSESSMENT OF LOCAL TAXES

Introduced By: Senators Revens, Walaska, and McCaffrey

Date Introduced: February 02, 2006

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:

44-5-67.3. Warwick -- Reduction in assessed value of real estate upon removal of

damaged buildings. – (a) Whenever a building is 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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LC00117

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