§ 44-5-74.2 - Woonsocket – Valuation of ratable property. - Rhode Island Statutes

SECTION 44-5-74.2

   § 44-5-74.2  Woonsocket – Valuation ofratable property. – (a) The assessor of the city of Woonsocket, on or before June 1 of each year,shall make a full and fair cash valuation of all the estate, real and personal,including motor vehicles and trailers, subject to taxation and determine theassessed valuation of each property class.

   (b) The assessor has the authority to apply different ratesof taxation against Class One, Class Two, and Class Three property to determinethe tax due and payable on the property; provided, that the rate of taxation isuniform within each class. Additionally, the rate of taxation for Class Threeproperty shall never be greater than thirty-four and two-tenths percent (34.2%)of the total tax levy produced by Class Two and Class Three combined. When realproperty is used for mixed purposes, the applicable rate shall be applied tothe proportionate amount of the real property used for each purpose.