§ 44-5.2-1 — § 44-5.2-1. Tax classification.

Rhode Island § 44-5.2-1

• Jurisdiction: Rhode Island
• Title 44: Taxation
• Ch. 44-5.2: Powers and Duties of Fire Districts in the Town of Coventry

Text

§ 44-5.2-1. Tax classification.

(a) Any fire district in the town of Coventry may adopt a tax classification plan, by a vote of the electors of the district, with the following limitations:

(1) The designated classes of property shall be limited to the four (4) classes as defined in subsection (b) of this section.

(2) The effective tax rate applicable to any class excluding class 4 shall not exceed by fifty percent (50%) the rate applicable to any other class.

(3) Any tax rate changes from one year to the next shall be applied such that the same percentage rate change is applicable to all classes, excluding class 4.

(4) Notwithstanding subdivisions (2) and (3) of this subsection, the tax rates applicable to wholesale and retail inventory within class 3 as defined in subsection (b) of this section are governed by § 44-3-29.1.

(5) 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applicable to motor vehicles within class 4 as defined in subsection (b) of this section are governed by § 44-34.1-1 [repealed].

(6) The provisions of chapter 35 of this title relating to property tax and fiscal disclosure applies to the reporting of and compliance with these classification restrictions.

(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.

(4) Class 4: Motor vehicles and trailers subject to the excise tax created by chapter 34 of this title.

Legislative History

P.L. 2013, ch. 516, § 1.