(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.

Terms Used In Rhode Island General Laws 44-5-76.1

  • Personal property: All property that is not real property.
  • real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10

(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.

History of Section.
P.L. 2002, ch. 279, § 1; P.L. 2002, ch. 346, § 1; P.L. 2022, ch. 138, § 1, effective June 23, 2022; P.L. 2022, ch. 139, § 1, effective June 23, 2022.