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Rhode Island General Laws Title 45. Towns and Cities § 45-25-30. Payments in lieu of local property tax

Current as of January 01, 2024 | Updated by Findlaw Staff

The property of an authority is exempt from all local and municipal taxes. An authority shall pay to the city a sum fixed annually by the city. A city may:

(1) Fix a sum to be paid to it annually by an authority in respect of each project; or

(2) Agree that an authority not pay or be liable to pay any sum whatsoever in respect of a project or projects for any year or years; or

(3) Agree with an authority or government upon the sum to be paid by the authority for any year or years in respect of a project or projects, or accept or agree to accept a fixed sum or other consideration in lieu of the payment.

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Cite this article: FindLaw.com - Rhode Island General Laws Title 45. Towns and Cities § 45-25-30. Payments in lieu of local property tax - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-45-towns-and-cities/ri-gen-laws-sect-45-25-30/

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