(a)  Each city or town may, by ordinance, provide up to twenty percent (20%) reduction in property tax liability for a period of up to five (5) years to an owner of a historic residence who incurs substantial maintenance or rehabilitation costs; provided, however, that

Terms Used In Rhode Island General Laws 44-4.1-3

  • Historic commercial structure: means : a historic structure in Warren or North Smithfield utilized for commercial purposes, whole or in part, and that is:

    (i)  Listed individually in the state register of historic places; or

    (ii)  Located in a district listed in the state register of historic places and certified by the commission as contributing to the historic character of that district; or

    (iii)  Located in a local historic district zone as designated by the town under chapter 24. See Rhode Island General Laws 44-4.1-2

  • Historic residence: means a historic residential property or historic accessory structure that is not of a character subject to federal depreciation allowance pursuant to 26 U. See Rhode Island General Laws 44-4.1-2
  • 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) Warren.  The town council of the town of Warren may, by ordinance, increase the time period for the reduction in property tax liability up to nine (9) years to an owner of an historic residence who incurs substantial maintenance or rehabilitation costs and to the owner of a historic commercial structure, with a value not to exceed one million dollars ($1,000,000) who incurs substantial maintenance or rehabilitation costs for the building’s exterior or structural features.

(c)  The town or city may elect to provide the reduction to any contributing property listed on the state register of historic places, or to any property covered by chapter 24.1 of Title 45, or to both. Each city or town shall establish a minimum dollar amount above which an owner must spend in order to qualify for the property tax reduction.

History of Section.
P.L. 1988, ch. 549, § 1; P.L. 2000, ch. 47, § 1; P.L. 2000, ch. 92, § 1; P.L. 2006, ch. 302, § 1; P.L. 2006, ch. 478, § 1.