R.I. Gen. Laws § 44-5-13.3 — Reduction in assessed value of real estate upon removal of damaged buildings

(a) Whenever a building is damaged as to require total reconstruction before it may be
used for any purpose related to its use prior to that damage and following which,
the owner provides for complete demolition of the building with the material from
demolition being removed from the parcel of real property on which the building was
situated or used as fill on the parcel for purposes of grading, the parcel shall be
assessed for purposes of property tax as of the date the demolition, removal, and
grading are completed to the satisfaction of the building inspector, and the assessment
shall reflect a determination of the assessed value of the parcel, exclusive of the
assessment value of the building damaged, demolished, and removed.
(b) The adjusted assessment is applicable with respect to the parcel from the date the
demolition, removal, and grading are completed, as determined by the building inspector,
until the thirty-first (31st) day of December next succeeding and the amount of property
tax payable with respect to the parcel for the assessment year in which demolition,
removal, and grading are completed is adjusted accordingly in the manner determined
by the assessor.
(c) This section is not applicable in the event of natural disasters such as, but not
limited to, erosion or demolition resulting from floods or hurricanes.
(d) This section applies only to assessments and taxes in the towns of South Kingstown,
North Kingstown, West Warwick and Barrington.