§ 44-5-55.1. Burrillville - Tax assessment stabilization. The town of Burrillville is authorized to establish by ordinance a process to stabilize tax assessments for improvements made to certain properties located in areas of town that have been designated substandard in and pursuant to the land use chapter of the town's comprehensive plan. Specifically, said ordinance shall provide that any exterior improvements made to any commercial, industrial, and/or mixed use buildings located in areas that have been identified as substandard areas as aforesaid shall not be subject to any increase in the tax assessment levied against said property directly related to and because of said improvement. Such prohibition against an increase in the tax assessment based upon these improvement shall be in place for a period not to exceed ten (10) years from the date on which the work on the improvements shall have begun. The ordinance shall also include a process for an applicant to apply and qualify for said tax stabilization.
History of Section. (P.L. 2006, ch. 411, § 1; P.L. 2006, ch. 532, § 1.)
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