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 sections:

{ADD 44-5-52. Property tax classification--Eligibility. -- ADD} {ADD The town of Burrillville is hereby authorized to adopt a system of property tax classification. ADD}

{ADD 44-5-53. Property tax classification in Burrillville--List of ratable property. -- ADD} {ADD Upon adoption of a system of classification of taxable property by the town of Burrillville, all ratable property in the town of Burrillville shall be classified by the assessor as follows:

(1) Class one--all ratable real estate and tangible personal property.

(2) Class two--all motor vehicles and trailers subject to the excise tax created by chapter 34 of title 44. ADD}

{ADD 44-5-54. Property tax classification in Burrillville--Duties of the assessor. -- ADD} {ADD (A) The assessor of the town of Burrillville, on or before June 1 of each year, shall make a 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) The assessor is hereby authorized to apply different rates of assessment and/or taxation against class one and class two property to determine the tax due and payable on the property, provided however, the rate for each class shall be uniform. ADD}

{ADD 44-5-55. Property tax classification in Burrillville--Procedures for adopting--Tax levy determination. -- ADD} {ADD The assessor shall provide to the town council a list containing the full and fair cash valuation of each property class, and the town council shall annually determine the percentages of the tax levy to be apportioned each class of property and shall annually apply tax rates sufficient to produce the proportion of the total tax levy. ADD}

SECTION 2. This act shall take effect upon passage.