(a)  The town council of the Town of Middletown may, by ordinance, provide for a schedule of exemptions from assessed valuation for real and personal property of property owners or businesses which create jobs in the town and which qualify under such ordinance.

Terms Used In Rhode Island General Laws 44-3-9.4

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Personal property: All property that is not real property.
  • town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
  • town council: include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9

(b)  The town council of the Town of Middletown may, by ordinance, provide for a schedule of exemptions from assessed valuation or determine a stabilized amount of taxes to be paid for real and personal property of property owners or businesses for any retrofit, expansion or renovation of specifically permitted uses under such ordinance and which qualify under such ordinance. The ordinance shall specify the kinds of retrofitting, expansion and renovation for which exemptions or stabilization will be permitted. The exemption shall be for a period of no more than five (5) years.

(c)  The amount of the exemption or stabilization and the rules and regulations regarding the eligibility and qualification for the exemption or stabilization shall be provided by ordinance and the town council may, from time to time, by amendment to the ordinance, make those changes in the amount of exemption or stabilization or in the rules and regulations regarding eligibility and qualification for exemption as it deems necessary.

History of Section.
P.L. 1996, ch. 6, § 1.