§ 44-5-67.3 - Warwick – Reduction in assessed value of real estate upon demolition of buildings.
SECTION 44-5-67.3
§ 44-5-67.3 Warwick – Reduction inassessed value of real estate upon demolition of buildings. – (a) Whenever a building is demolished and the refuse is removed from theproperty, the tax assessor shall reassess the property to reflect removal ofthe building, and the new assessment shall be effective as of the date thebuilding official confirms that the demolition is complete.
(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.
(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 thecity of Warwick.