(a) In addition to existing town and city charter provisions and the general and public laws of the state of Rhode Island pertaining to public hearings regarding town and city budget adoptions, each town and city shall provide for a public hearing and for full property tax disclosure procedures as set out in this chapter.
(b) The chief elected official in each town and city shall cause to be published the “proposed property tax rate” and the “adjusted current property tax rate” as defined in § 44-35-3 for the town or city. No property tax levy in excess of that in the current fiscal year shall be levied until a public hearing has been held as outlined in §§ 44-35-6 — 44-35-8.