2025 -- S 1122

========

LC002964

========

     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2025

____________

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

     Introduced By: Senator David P. Tikoian

     Date Introduced: June 02, 2025

     Referred To: Senate Housing & Municipal Government

     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. Smithfield --

Property tax classification, levy determination 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 each property class as

identified in subsection (b) of this section and notwithstanding the provisions of § 44-5-11.8 to the

contrary, determine the percentage of the tax levy to be apportioned each class of property and shall

apply tax rates sufficient to produce the proportion of the total tax levy.

     (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subsection (b) of this section, are governed by § 44-34.1-1 [repealed].

     (b) Classes of property.

     (1) Class 1. Residential real estate consisting of no more than five (5) dwelling units; land

classified as open space; and dwellings on leased land including mobile homes.

     (2) Class 2. Commercial and industrial real estate; residential properties containing partial

commercial or business uses; and residential real estate of more than five (5) dwelling units.

     (3) Class 3. All ratable tangible personal property excluding motor vehicles and trailers

subject in all respects to the requirements of § 44-5.3-3.

     SECTION 2. This act shall take effect upon passage.

========

LC002964

========

LC002964 - Page 2 of 3

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

***

     This act would authorize the town of Smithfield to set rates that more closely relate to the

changes in values and ensure that the tax classification system creates fair and equitable taxation

between residential and commercial property.

     This act would take effect upon passage.

========

LC002964

========

LC002964 - Page 3 of 3