Section 44-5-76.1 - Newport - property tax classification - list of ratable property ` (a) Upon adoption of a system of classification of taxable property by the city of Newport, all ratable property in the city of Newport shall be classified by the assessor as follows:(1) Class One: all ratable tangible personal property;(2) Class Two: residential real estate with less than four (4) units;(3) Class Three: all commercial and industrial real estate and residential real estate with four (4) units or more; and(4) Class Four: motor vehicles and trailers subject to the excise tax created by chapter 34 of this title.(b) In lieu of the city of Newport adopting a homestead exemption authorized by ordinances enacted pursuant to § 44-5-78, the city of Newport may divide the residential real estate in Class Two of this section, into non-owner occupied and owner occupied properties and adopt separate tax rates in compliance with the restrictions set forth in § 44-5-76.2. The city of Newport, by ordinance or resolution, shall provide rules and regulations, including, but not limited to, governing the division and definition of non-owner and owner occupied properties.R.I. Gen. Laws § 44-5-76.1
Amended by 2022 Pub. Laws, ch. 139,§ 1, eff. 6/23/2022.Amended by 2022 Pub. Laws, ch. 138,§ 1, eff. 6/23/2022. P.L. 2002, ch. 279, § 1; P.L. 2002, ch. 346, § 1.