§ 44-5-13.31 - Johnston – Reduction in assessed value of real estate upon removal of damaged buildings.
SECTION 44-5-13.31
§ 44-5-13.31 Johnston – Reduction inassessed value of real estate upon removal of damaged buildings. – (a) Whenever a building is damaged as to require total reconstruction before itmay be used for any purpose related to its use prior to, and following which,the owner provides for complete demolition of the building with the materialfrom demolition being removed from the parcel of real property on which thebuilding was situated or used as fill on the parcel for purposes of grading,the parcel shall be assessed for purposes of property tax of the date thedemolition, removal, and grading are completed to the satisfaction of thebuilding inspector, and the assessment shall reflect a determination of theassessed value of the parcel, exclusive of the assessment value of the buildingso damaged, demolished, and removed.
(b) The adjusted assessment is applicable with respect to theparcel from the date demolition, removal, and grading are completed, asdetermined by the building inspector, until the thirty-first (31st) day ofDecember next succeeding and the amount of property tax payable with respect tothe parcel for the assessment year in which demolition, removal, and gradingare completed is adjusted accordingly in the manner determined by the assessor.
(c) This section is not applicable in the event of naturaldisasters such as, but not limited to, erosion or demolition resulting fromfloods or hurricanes.
(d) This section applies only to assessments and taxes in thetown of Johnston.