Rhode Island General Laws Title 45. Towns and Cities § 45-13-14. Adjustments to tax levy, assessed value, and full value when computing state aid

(1) That exempted from taxation by acts of the general assembly and reimbursed under § 45-13-5.1, which shall have its value calculated as if the payment in lieu of tax revenues received pursuant to § 45-13-5.1, has resulted from a tax levy;

(2) That whose tax levy or assessed value is based on a tax treaty agreement authorized by a special public law or by reason of agreements between a municipality and the economic development corporation in accordance with § 42-64-20 prior to May 15, 2005, which shall not have its value included;

(3) That whose tax levy or assessed value is based on tax treaty agreements or tax stabilization agreements in force prior to May 15, 2005, which shall not have its value included;

(4) That which is subject to a payment in lieu of tax agreement in force prior to May 15, 2005;

(5) Any other property exempt from taxation under state law;

(6) Any property subject to chapter 27 of title 44, taxation of Farm, Forest, and Open Space Land; or

(7) Any property exempt from taxation, in whole or in part, under the provisions of subsections (a)(51), (a)(66), or (c) of § 44-3-3, § 44-3-47, § 44-3-65, § 44-5.3-1, or any other provision of law that enables a city, town, or fire district to establish a tangible personal property exemption, which shall have its value calculated as the full value of the property minus the exemption amount.