§ 44-5-79 - Little Compton – Property tax classification. - Rhode Island Statutes

SECTION 44-5-79

   § 44-5-79  Little Compton – Propertytax classification. – (a) The assessor of the town of Little Compton shall make a full and fair cashvaluation of all the estate, real and personal, including motor vehicles andtrailers, subject to taxation and determine the assessed valuation of eachproperty class as defined in § 44-5-11.8 of the General Laws entitled TaxClassification.

   (b) The town council of the town of Little Compton isauthorized to apply, by ordinance, a higher rate of taxation to Class 3property (all ratable tangible property) beginning in tax year 2005 (values asof 12/31/2004); provided, that the tax rate applicable to Class 3 property,notwithstanding the provisions of § 44-5-11.8, shall not exceed the rateapplicable to Class 1 by more than two hundred percent (200%); and providedfurther, that any subsequent tax rate changes thereafter shall be madeconsistent with the provisions of § 44-5-11.8.