(a)  Upon the sale of tax-exempt property to a purchaser who or that holds no tax-exempt status, the tax assessor/collector may issue a prorated tax bill on the then-current tax assessment from the date of sale. The prorated tax shall be assessed from the date of sale to the end of the current calendar year.

(b)  Not later than ninety (90) days after the notice has been received pursuant to § 44-3-14, the assessor shall prorate the tax from the date of the sale to the next date of assessment (December 31). Taxes shall be based on the then-current property assessment and current fiscal year tax rate for the property as classified.

(c)  Any person claiming to be aggrieved by the action of the assessor under this section may appeal to the assessor within forty-five (45) days from the date of the notification of the prorated tax assessed. If still aggrieved, an appeal may be filed with the tax assessment board of review within thirty (30) days of the assessor’s decision. If still aggrieved by the board’s decision, a petition in superior court may be filed within thirty (30) days of the notice from the tax board of decision.

(d)  Upon receipt of the notice/bill from the assessor, the tax is due and payable in an initial or single installment due and payable not sooner than thirty (30) days after the date the bill is mailed or hand-delivered to the owner, and in any remaining, regular installments, as they are due and payable, and the several installments of a tax due and payable are equal.