Property Tax and Fiscal Disclosure Municipal Budgets
§ 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
(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.)