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| 4 | 4 | | |
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| 5 | 5 | | 2023 -- H 6328 |
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| 6 | 6 | | ======== |
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| 7 | 7 | | LC002850 |
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| 8 | 8 | | ======== |
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| 9 | 9 | | S T A T E O F R H O D E I S L A N D |
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| 10 | 10 | | IN GENERAL ASSEMBLY |
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| 11 | 11 | | JANUARY SESSION, A.D. 2023 |
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| 12 | 12 | | ____________ |
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| 13 | 13 | | |
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| 14 | 14 | | A N A C T |
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| 15 | 15 | | RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES |
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| 16 | 16 | | Introduced By: Representatives Carson, and Abney |
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| 17 | 17 | | Date Introduced: April 26, 2023 |
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| 18 | 18 | | Referred To: House Municipal Government & Housing |
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| 19 | 19 | | |
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| 20 | 20 | | |
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| 21 | 21 | | It is enacted by the General Assembly as follows: |
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| 22 | 22 | | SECTION 1. Section 44-5-76.1 of the General Laws in Chapter 44-5 entitled "Levy and 1 |
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| 23 | 23 | | Assessment of Local Taxes" is hereby amended to read as follows: 2 |
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| 24 | 24 | | 44-5-76.1. Newport — Property tax classification — List of ratable property. 3 |
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| 25 | 25 | | (a) Upon adoption of a system of classification of taxable property by the city of Newport, 4 |
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| 26 | 26 | | all ratable property in the city of Newport shall be classified by the assessor as follows: 5 |
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| 27 | 27 | | (1) Class One: all ratable tangible personal property; 6 |
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| 28 | 28 | | (2) Class Two: residential real estate with less than four (4) units; 7 |
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| 29 | 29 | | (3) Class Three: all commercial and industrial real estate and residential real estate with 8 |
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| 30 | 30 | | four (4) units or more; and 9 |
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| 31 | 31 | | (4) Class Four: motor vehicles and trailers subject to the excise tax created by chapter 34 10 |
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| 32 | 32 | | of this title. 11 |
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| 33 | 33 | | (b) In lieu of the city of Newport adopting a homestead exemption authorized by 12 |
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| 34 | 34 | | ordinances enacted pursuant to § 44-5-78, the city of Newport may divide the residential real estate 13 |
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| 35 | 35 | | in Class Two of this section, into non-owner occupied and owner-occupied properties and adopt 14 |
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| 36 | 36 | | separate tax rates in compliance with the restrictions set forth in § 44-5-76.2. The city of Newport, 15 |
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| 37 | 37 | | by ordinance or resolution, shall provide rules and regulations, including, but not limited to, 16 |
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| 38 | 38 | | governing the division and definition of non-owner and owner-occupied properties. 17 |
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| 39 | 39 | | (c) Notwithstanding any other provisions of this section, the city of Newport may, by 18 |
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| 40 | 40 | | ordinance, provide that Class Three as set forth in subsection (a)(3) of this section, may also include 19 |
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| 41 | 41 | | |
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| 42 | 42 | | |
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| 43 | 43 | | LC002850 - Page 2 of 3 |
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| 44 | 44 | | nonowner occupied residential properties used as short-term rentals for tourist or transient use, such 1 |
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| 45 | 45 | | ordinance to be applicable to taxes assessed on or after the assessment date of December 31, 2023. 2 |
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| 46 | 46 | | SECTION 2. This act shall take effect upon passage. 3 |
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| 47 | 47 | | ======== |
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| 48 | 48 | | LC002850 |
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| 49 | 49 | | ======== |
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| 51 | 51 | | |
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| 52 | 52 | | LC002850 - Page 3 of 3 |
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| 53 | 53 | | EXPLANATION |
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| 54 | 54 | | BY THE LEGISLATIVE COUNCIL |
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| 55 | 55 | | OF |
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| 56 | 56 | | A N A C T |
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| 57 | 57 | | RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES |
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| 58 | 58 | | *** |
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| 59 | 59 | | This act would permit the city of Newport, by separate ordinance, to assess nonowner 1 |
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| 60 | 60 | | occupied residential properties used as short-term rentals for tourists under its Class Three category, 2 |
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| 61 | 61 | | which includes commercial, industrial and residential real estate with four (4) units or more. 3 |
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| 62 | 62 | | This act would take effect upon passage. 4 |
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| 63 | 63 | | ======== |
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| 64 | 64 | | LC002850 |
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| 65 | 65 | | ======== |
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