Rhode Island SB 2371: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES (Replaces the current tax stabilization assessment plan for the town of Burrillville with an updated plan.)

Bill Text

2020 -- S 2371
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S T A T E O F R H O D E I S L A N D
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2020
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A N A C T
RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES
Introduced By: Senator Jessica de la Cruz
Date Introduced: February 13, 2020
Referred To: Senate Housing & Municipal Government

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 1
Assessment of Local Taxes" is hereby repealed. 2
44-5-55.1. Burrillville -- Tax assessment stabilization. 3
The town of Burrillville is authorized to establish by ordinance a process to stabilize tax 4
assessments for improvements made to certain properties located in areas of town that have been 5
designated substandard in and pursuant to the land use chapter of the town's comprehensive plan. 6
Specifically, said ordinance shall provide that any exterior improvements made to any 7
commercial, industrial, and/or mixed use buildings located in areas that have been identified as 8
substandard areas as aforesaid shall not be subject to any increase in the tax assessment levied 9
against said property directly related to and because of said improvement. Such prohibition 10
against an increase in the tax assessment based upon these improvement shall be in place for a 11
period not to exceed ten (10) years from the date on which the work on the improvements shall 12
have begun. The ordinance shall also include a process for an applicant to apply and qualify for 13
said tax stabilization. 14
SECTION 2. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local 15
Taxes" is hereby amended by adding thereto the following section: 16
44-5-55.2. Burrillville -- Tax levy and stabilization. 17
The town of Burrillville is authorized to establish by ordinance a process to stabilize tax 18
assessments and provide tax credits for physical improvements made to certain properties located 19

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in areas of town that have been designated substandard by the town's comprehensive plan or as 1
may be separately designated by the town council. Specifically, the ordinance shall provide that 2
physical improvements made to any commercial, industrial, mixed-use buildings, and apartment 3
houses with six (6) or more legal units located in areas that have been designated substandard 4
may be eligible for either a tax stabilization or a tax credit against their real estate tax levy as set 5
forth in the town's ordinance. The stabilization granted or tax credit based upon these 6
improvements shall be in place for a period not to exceed ten (10) years from the date on which 7
the work on the improvements shall have been completed. All improvements made to the 8
property will be assessed accordingly as of December 31 of each year pursuant to § 44-5-1. The 9
ordinance shall also include a process for an applicant to apply and qualify for the tax 10
stabilization or tax credits. 11
SECTION 3. This act shall take effect upon passage. 12
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EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
A N A C T
RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES
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This act would replace the current tax stabilization assessment plan for the town of 1
Burrillville with an updated plan. 2
This act would take effect upon passage. 3
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