§ 44-5-20.19 - North Smithfield – Property tax classification – List of ratable property.
SECTION 44-5-20.19
§ 44-5-20.19 North Smithfield –Property tax classification – List of ratable property. – (a) Upon adoption of a system of classification of taxable property by the townof North Smithfield, all ratable property in the town of North Smithfield shallbe classified by the assessor as follows:
(1) Class 1: all residential real estate, which consists ofnot more than five (5) dwelling units and all residential real estate thatconsists of six (6) dwelling units in which at least one unit isowner-occupied. Class 1 includes all mobile/manufactured homes;
(2) Class 2: all commercial and industrial real estate andall residential real estate which consists of six (6) dwelling units in whichno units are owner-occupied and all residential real estate which consists ofmore than six (6) dwelling units;
(3) Class 3: all ratable tangible personal property;
(4) Class 4: all motor vehicles and trailers subject to theexcise tax created by chapter 34 of this title.
(b) Where real property is used or held for more than onepurpose and the uses result in different classifications, the assessor shallallocate to each classification the percentage of true and fair cash value tothe property devoted to each use.
(c) Notwithstanding any provisions of § 44-5-11.8, thetax rates applicable to wholesale and retail inventory within Class 3 asdefined in subsection (a) of this section are governed by § 44-3-29.1.
(d) The tax rates applicable to motor vehicles within Class 4as defined in subsection (a) of this section are governed by § 44-34.1-1.