§ 42-64.9-10. Exemption or stabilization of taxes.
Notwithstanding the provisions of any municipal charter or any other general, special or local law to the contrary, real property taxes for a certified building and tangible property taxes of the owner or owners of a certified building for tangible property used in the certified building may be exempted from payment, in whole or in part, notwithstanding the valuation of the property or the rate of tax, by vote of the city or town council to the extent deemed appropriate by the city or town council to carry out the purposes of this chapter. This section shall be construed to provide a complete, additional and alternative authority for the city or town council to grant exemption or stabilization of real or tangible property taxes with respect to certified buildings, and the granting of tax exemption or stabilization by the city or town council under the provisions of this section does not require the taking of any other proceedings or the happening of any condition, except for the vote of the city or town council.
History of Section.P.L. 2004, ch. 277, § 1; P.L. 2004, ch. 284, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-64.9 - Mill Building and Economic Revitalization Act
Section 42-64.9-1. - Short title.
Section 42-64.9-2. - Legislative findings and purpose.
Section 42-64.9-4. - Definitions and construction.
Section 42-64.9-5. - Building certification process.
Section 42-64.9-6. - Notice of final designation of certified building.
Section 42-64.9-6.1. - Certified building rehabilitation.
Section 42-64.9-6.2. - Impact analysis and periodic reporting.
Section 42-64.9-7. - Specialized investment tax credit.
Section 42-64.9-8. - Business tax credits.
Section 42-64.9-9. - Interest income.
Section 42-64.9-10. - Exemption or stabilization of taxes.
Section 42-64.9-11. - Expedited permit process.
Section 42-64.9-12. - Expiration.
Section 42-64.9-13. - Examination of taxpayer’s records.
Section 42-64.9-14. - Penalties.
Section 42-64.9-15. - Revocation of certification.
Section 42-64.9-16. - Additional rules and regulations.