| Chapter 074 |
| 2018 -- S 2942 Enacted 06/28/2018 |
| A N A C T |
| RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES |
| Introduced By: Senator Dawn M. Euer |
| Date Introduced: May 31, 2018 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. Section 44-5-76.2 of the General Laws in Chapter 44-5 entitled "Levy and |
| Assessment of Local Taxes" is hereby amended to read as follows: |
| 44-5-76.2. Newport -- Property tax classification. |
| (a) The assessor of the city of Newport, on or before June 1 of each year, shall make a |
| full and fair cash valuation of all the estate, real and personal, including motor vehicles and |
| trailers, subject to taxation and determine the assessed valuation of each property class. |
| (b) The designated classes of property shall be limited to the four (4) classes as defined in |
| § 44-5-76.1. |
| (c) The effective tax rate applicable to any class shall not exceed by fifty percent (50%) |
| the rate applicable to any other class. |
| (d) Any tax rate changes from one year to the next shall be applied so that the same |
| percentage rate change is applicable to all classes. Notwithstanding the aforesaid sentence, in the |
| first year following comprehensive revaluation or any update in accordance with § 44-5-11.6, the |
| city is authorized to set the effective tax rate applicable to any class in an amount not to exceed |
| by fifty percent (50%) the rate applicable to any other class. |
| (e) The tax rates applicable to motor vehicles within class four as defined in § 44-5-76.1 |
| are governed by § 44-34.1-1. |
| (f) The provisions of chapter 35 of this title relating to property tax and fiscal disclosure |
| applies apply to the reporting of and compliance with these classification restrictions. |
| SECTION 2. This act shall take effect upon passage. |
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| LC005793 |
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