TITLE 44

Taxation

CHAPTER 44-35

Property Tax and Fiscal Disclosure – Municipal Budgets

SECTION 44-35-2



   § 44-35-2  Purpose. –

The purpose of this chapter is to:



   (1) Establish a procedure under which towns and cities may

levy property taxes;



   (2) Provide for full disclosure of the effect of rate and

base changes on property tax revenues;



   (3) Establish a procedure for public hearings on proposed

budgets;



   (4) Require municipalities to adopt a balanced budget; and



   (5) Provide for fiscal oversight of municipalities incurring

an operating deficit or an accumulated deficit in the preceding fiscal year.



History of Section.

(P.L. 1979, ch. 298, § 1; P.L. 1981, ch. 297, § 1.)