Section 44-5-13.7 - Coventry - 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 the 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 so damaged, demolished, and removed.(b) The adjusted assessment is applicable with respect to the parcel from the date 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 town of Coventry.R.I. Gen. Laws § 44-5-13.7