§ 44-5-71 - Jamestown – Reduction in assessed value of real estate upon removal of damaged buildings.
SECTION 44-5-71
§ 44-5-71 Jamestown – 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 the damage, andfollowing which the owner provides for complete demolition of the building withthe material from demolition being removed from the parcel of real property onwhich the building was situated or used as fill on the parcel for purposes ofgrading, the parcel shall be assessed for purposes of property tax as of thedate the demolition, removal and grading are completed, to the satisfaction ofthe building 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 respectto the 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 Jamestown.