(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,
(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.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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