Rhode Island General Laws Title 44. Taxation § 44-3-37. Burrillville--Exemption and/or valuation freeze of retailer's inventory

(a) The town council for the town of Burrillville may, by ordinance, wholly or partially exempt from taxation and/or freeze the valuation of the stock in trade or inventory of retailers for a period of up to twenty-five (25) years.

(b) “ Retailer” means and includes a person, partnership, corporation, or other business entity engaged in the business of selling goods at retail.

(c) “ Inventory” or “ stock in trade” means and includes the merchandise kept on hand for sale in the normal course of business of a retailer.

(d) The town council of the town of Burrillville may, by ordinance, establish the application and/or verification procedures for taxpayers to avail themselves of the benefit of any exemption or valuation freeze permitted under this section as the town council may deem necessary.