§ 44-5-69.1. Property tax classification - Albion fire district within the town of Lincoln - Tax levy determination. The tax collector for the Albion fire district within the town of Lincoln shall provide to the board of fire commissioners a list containing the full and fair valuation of each property class, and with the approval of the members of the fire district by vote, annually determine the percentage of the tax levy to be apportioned to each class of property and shall annually apply tax rates sufficient to produce the proportion of the total tax levy.
(1) Class 1. Residential real estate consisting of no more than five (5) dwelling units including dwellings on leased land including mobile homes.
(2) Class 2. Commercial and industrial real estate and residential real estate of more than five (5) dwelling units.
(3) Class 3. All ratable tangible personal property excluding motor vehicles and trailers. (Notwithstanding any provisions of the contrary, the tax rates applicable to wholesale and retail inventory within Class 3 are governed by § 44-3-29.1).
History of Section. (P.L. 2010, ch. 317, § 1.)