TAXES
RESOLVED: That the Electors of the Town of New Shoreham, qualified to vote upon any propositions to impose a tax, or for the expenditures of money, in Town Meeting legally assembled:
That the assessment and collection of tax be made on the ratable real estate and tangible personal property of said Town for the fiscal year beginning July 1, 2024, through June 30, 2025, in a sum of up to $14,709,171 said tax for expenses and charges and sinking funds, for the payment of interest and indebtedness in whole or in part of said Town, and for other purposes authorized by law.
That said tax includes $1,739,614 in excess of the 4.00% property tax cap authorized by RIGL 44-5-2 and certified by RI Department of Revenue, Division of Municipal Finance in accordance with RIGL 44-5-2(d).
That said tax shall be calculated on 100% of the assessed value of the property, less any applicable exemptions.
The Tax Assessors shall assess and apportion said tax on the inhabitants and ratable property of said Town as of the 31st day of December, A.D. 2023, Midnight, according to law and shall, on completion of said assessment, date, and certify, and sign their name and deliver to and deposit the same in the Office of the Town Clerk, on receipt of said assessment, shall forthwith make a copy of the same and deliver it to the Town Treasurer,
who shall forthwith issue and affix said copy a warrant under her hand, directed to the Collector of Taxes of said Town, commanding her to proceed and collect said tax of the persons and estates liable therefore. Said tax shall be due and payable on and between the 15th day of August A.D., 2024 and the 31st day of August A.D., 2024 and all taxes
remaining unpaid on said last named day shall carry until collected a penalty at a rate up to eighteen (18%) per cent per annum upon such unpaid tax, and/or said tax may be paid in quarterly installments, the first installment of twenty-five (25%) per cent on or before the 15th day of August A.D., 2024 and the remaining installments as follows: twenty-five (25%) on the 15th day of November A.D., 2024; and twenty-five (25%) on the 15th day of
February A.D., 2025 and twenty-five (25%) on the 15th day of May A.D., 2025. If the first installment or any succeeding installment of taxes is not paid by the end of the grace period established for each quarterly installment, said grace period end dates herein established as August 31, 2024, November 30, 2024, February 28, 2025 and May 31, 2025 respectively, they shall carry until collected a penalty at the rate of eighteen (18%) per annum including the grace period, provided, however, any property tax due in an amount not in excess of $100.00 shall be payable in full between the fifteenth day of August and 31st day of August, 2024 and the quarterly installment provisions herein before permitted shall not apply.
And be it further RESOLVED: That the Collector of Taxes shall collect, and pay into the Town’s Treasury as the same is collected, the tax this day ordered.
This is a true copy of a resolution passed by vote of the electors of the Town of New Shoreham at the Financial Town Meeting May 6, 2024.
Millicent Highet, MMC
Town Clerk