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2017 Rhode Island General Laws
Title 44 - Taxation
Chapter 44-5 - Levy and Assessment of Local Taxes
Section 44-5-20.5 - Pawtucket - Property tax classification - Procedures for adopting.

Universal Citation: RI Gen L § 44-5-20.5 (2017)
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§ 44-5-20.5. Pawtucket - Property tax classification - Procedures for adopting.

(a) When the city of Pawtucket has been certified by the director of revenue for property tax classification in accordance with § 44-5-20.1, the city of Pawtucket shall annually first determine the percentages of the local tax levy to be borne by each class of ratable property as defined in § 44-5-20.2 for the next fiscal year. In determining the percentages, the assessor together with the mayor's approval shall after determining revenues to be realized from Class 2 properties then determine the residential factor. The factor shall be an amount not less than the minimum residential factor determined by the director of revenue in accordance with § 44-5-20.3 and shall be used by the assessor to determine the percentages of the local tax levy to be borne by each class. After the first year, the rate of taxation of Class 2 properties shall not exceed the rate of taxation of the previous year, until the rate of taxation of Class 1 properties is equal to the rate of Class 2 properties.

(b) In the first year, the Class 1 percentage shall be the full and fair cash value of the Class 1 property divided by the full and fair cash value of all real and personal property, excluding motor vehicles, in the city multiplied by the residential factor. In succeeding years, the rate of taxation shall be determined after Class 2 properties' revenues have been determined.

(c) In the first year, the Class 2 percentage shall be the full and fair cash value of the Class 2 property divided by the sum of the full and fair cash value of all real and personal property, excluding motor vehicles, in the city multiplied by the difference between one hundred percent (100%) and the Class 1 percentage.

History of Section.
(P.L. 1984, ch. 11, § 1; P.L. 2008, ch. 98, § 37; P.L. 2008, ch. 145, § 37.)

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