Chapter 053

2020 -- H 7851 Enacted 06/26/2020

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Introduced By: Representatives Place, and Newberry

Date Introduced: February 26, 2020

It is enacted by the General Assembly as follows:

SECTION 1. Section 44-5-55.1 of the General Laws in Chapter 44-5 entitled "Levy and

Assessment of Local Taxes" is hereby amended to read as follows:

44-5-55.1. Burrillville -- Tax assessment stabilization Burrillville -- Tax levy

assessment stabilization.

The town of Burrillville is authorized to establish by ordinance a process to stabilize tax

assessments for improvements made to certain properties located in areas of town that have been

designated substandard in and pursuant to the land use chapter of the town's comprehensive plan.

Specifically, said ordinance shall provide that any exterior improvements made to any

commercial, industrial, and/or mixed use buildings located in areas that have been identified as

substandard areas as aforesaid shall not be subject to any increase in the tax assessment levied

against said property directly related to and because of said improvement. Such prohibition

against an increase in the tax assessment based upon these improvement 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 begun. The ordinance shall also include a process for an applicant to apply and qualify for

said tax stabilization.

The town of Burrillville is authorized to establish by ordinance a process to stabilize tax

assessments and/or 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, said 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 may

be eligible for tax stabilization and/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 per § 44-5-1. The ordinance shall also

include a process for an applicant to apply and qualify for said credits.

SECTION 2. This act shall take effect upon passage.

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LC004403

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