§ 44-5-13 - Assessment and apportionment according to law – Date of assessment.
SECTION 44-5-13
§ 44-5-13 Assessment and apportionmentaccording to law – Date of assessment. – The assessors shall assess all valuation and apportion any tax levy on theinhabitants of the city or town and the ratable property in the city or townaccording to law, and the assessed valuation of the ratable property is made asof the date of assessment provided in § 44-5-1; except that personalproperty consisting of stocks in trade and materials used in manufacture, whichinclude raw materials, fuel, goods in process of manufacture, and completedproducts, except those which are specifically exempt by statute, are estimatedat the average of the personalty kept on hand or located in the taxing districtduring the twelve (12) months ending with the date of assessment, or theaverage of any portion of the twelve (12) months when the business has not beencarried on or located in the taxing district for a year.