| 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. |
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| LC006222 |
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