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§ 44-3-9.7 - South Kingstown – Exemption or stabilization of tax on qualified property used for manufacturing or commercial purposes in the town of South Kingstown.

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SECTION 44-3-9.7 § 44-3-9.7South Kingstown –Exemption or stabilization of tax on qualified property used for manufacturingor commercial purposes in the town of South Kingstown. – (a) Except as provided in this section, the town council of the town of SouthKingstown may vote to authorize, for a period not exceeding ten (10) years, andsubject to the conditions provided in this section, to exempt from payment, inwhole or part, real and personal property used for manufacturing or commercialpurposes, or to determine a stabilized amount of taxes to be paid on account ofthe property, notwithstanding the valuation of the property or the rate of tax;provided, that after public hearings, at least ten (10) days' notice of whichshall be given in a newspaper of general circulation in the town, the towncouncil determines that: (1) Granting of the exemption or stabilization of taxes willinure to the benefit of the town by reason of: (i) The willingness of the manufacturing or commercialconcern to locate in the town; or (ii) The willingness of a manufacturing firm to expandfacilities with an increase in employment or the willingness of a commercial ormanufacturing concern to retain or expand its facility in the town and notreduce its work force in the town; or (iii) An improvement of the physical plant of the town thatwill result in long-term economic benefits to the town and the state. (2) Granting of the exemption or stabilization of taxes willinure to the benefit of the town by reason of the willingness of amanufacturing or commercial firm or concern to replace, reconstruct, expand orremodel existing buildings, facilities, fixtures, machinery, or equipment withmodern buildings, facilities, fixtures, machinery, or equipment, resulting inan increase in, plant or commercial building investment by the firm or concernin the town. (b) Should the town council make the determination inparagraphs (a)(1)(i) – paragraphs (a)(1)(iii), or subdivision (a)(2) ofthis section, an exemption or stabilization may be granted for existingbuildings, property, machinery, or facilities owned by businesses alreadylocated in the town of South Kingstown on January 1, 2006. (c) For the purposes of this section, "real property used formanufacturing or commercial purposes" includes any building or structure usedfor offices or commercial enterprises including without limitation any buildingor structure used for wholesale, warehouse, distribution, and/or storagebusiness, used for service industries, or used for any other commercialbusiness and the land on which the building or structure is situated and notused for residential purposes. (d) For purposes of this section, "personal property used formanufacturing or commercial purposes" means any personal property owned by afirm or concern occupying a building, structure, and/or land used forcommercial purposes and used by such firm or concern in its commercialenterprise including, without limitation, furniture, fixtures, equipment,machinery, stock in trade, and inventory. (e) Except as provided in this section, property for whichtaxes have been exempted in whole or part, or stabilized pursuant to thissection, shall not, during the period for which taxes have been exempted orstabilized, be further liable to taxation by the town so long as the propertyis used for the manufacturing or commercial purpose for which the exemption orstabilization was granted. (f) Notwithstanding any vote of, or findings by the towncouncil, the property shall be assessed for, and shall pay, that portion of thetax, if any, assessed by the town for the purpose of paying the indebtedness ofthe town and the indebtedness of the state or any political subdivision of thestate, to the extent assessed upon or apportioned to the town, and the intereston the indebtedness, and for appropriation to any sinking fund of the town,which portion of the tax shall be paid in full, and the taxes so assessed andcollected shall be kept in a separate account and used only for that purpose. (g) Any application for tax exemption or stabilizationsubmitted pursuant to this section shall be submitted before an application fordevelopment plan review is submitted to the South Kingstown planning board, asapplicable, or for other such permits and/or approvals that may be requiredfrom any other town board or commission. (h) Any tax exemption or stabilization granted by the towncouncil pursuant to this section shall be applicable for a period beginning onthe first day of the fiscal year in which the exemption or stabilization isgranted. (i) If a property owner whose property tax has been exemptedor stabilized pursuant to this section becomes delinquent in the payment of itsproperty taxes, or transfers ownership of its business, the town council shallhave the authority to review and terminate the tax exemption or stabilizationagreement.
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  • SECTION 44-3-9.7

       § 44-3-9.7  South Kingstown –Exemption or stabilization of tax on qualified property used for manufacturingor commercial purposes in the town of South Kingstown. – (a) Except as provided in this section, the town council of the town of SouthKingstown may vote to authorize, for a period not exceeding ten (10) years, andsubject to the conditions provided in this section, to exempt from payment, inwhole or part, real and personal property used for manufacturing or commercialpurposes, or to determine a stabilized amount of taxes to be paid on account ofthe property, notwithstanding the valuation of the property or the rate of tax;provided, that after public hearings, at least ten (10) days' notice of whichshall be given in a newspaper of general circulation in the town, the towncouncil determines that:

       (1) Granting of the exemption or stabilization of taxes willinure to the benefit of the town by reason of:

       (i) The willingness of the manufacturing or commercialconcern to locate in the town; or

       (ii) The willingness of a manufacturing firm to expandfacilities with an increase in employment or the willingness of a commercial ormanufacturing concern to retain or expand its facility in the town and notreduce its work force in the town; or

       (iii) An improvement of the physical plant of the town thatwill result in long-term economic benefits to the town and the state.

       (2) Granting of the exemption or stabilization of taxes willinure to the benefit of the town by reason of the willingness of amanufacturing or commercial firm or concern to replace, reconstruct, expand orremodel existing buildings, facilities, fixtures, machinery, or equipment withmodern buildings, facilities, fixtures, machinery, or equipment, resulting inan increase in, plant or commercial building investment by the firm or concernin the town.

       (b) Should the town council make the determination inparagraphs (a)(1)(i) – paragraphs (a)(1)(iii), or subdivision (a)(2) ofthis section, an exemption or stabilization may be granted for existingbuildings, property, machinery, or facilities owned by businesses alreadylocated in the town of South Kingstown on January 1, 2006.

       (c) For the purposes of this section, "real property used formanufacturing or commercial purposes" includes any building or structure usedfor offices or commercial enterprises including without limitation any buildingor structure used for wholesale, warehouse, distribution, and/or storagebusiness, used for service industries, or used for any other commercialbusiness and the land on which the building or structure is situated and notused for residential purposes.

       (d) For purposes of this section, "personal property used formanufacturing or commercial purposes" means any personal property owned by afirm or concern occupying a building, structure, and/or land used forcommercial purposes and used by such firm or concern in its commercialenterprise including, without limitation, furniture, fixtures, equipment,machinery, stock in trade, and inventory.

       (e) Except as provided in this section, property for whichtaxes have been exempted in whole or part, or stabilized pursuant to thissection, shall not, during the period for which taxes have been exempted orstabilized, be further liable to taxation by the town so long as the propertyis used for the manufacturing or commercial purpose for which the exemption orstabilization was granted.

       (f) Notwithstanding any vote of, or findings by the towncouncil, the property shall be assessed for, and shall pay, that portion of thetax, if any, assessed by the town for the purpose of paying the indebtedness ofthe town and the indebtedness of the state or any political subdivision of thestate, to the extent assessed upon or apportioned to the town, and the intereston the indebtedness, and for appropriation to any sinking fund of the town,which portion of the tax shall be paid in full, and the taxes so assessed andcollected shall be kept in a separate account and used only for that purpose.

       (g) Any application for tax exemption or stabilizationsubmitted pursuant to this section shall be submitted before an application fordevelopment plan review is submitted to the South Kingstown planning board, asapplicable, or for other such permits and/or approvals that may be requiredfrom any other town board or commission.

       (h) Any tax exemption or stabilization granted by the towncouncil pursuant to this section shall be applicable for a period beginning onthe first day of the fiscal year in which the exemption or stabilization isgranted.

       (i) If a property owner whose property tax has been exemptedor stabilized pursuant to this section becomes delinquent in the payment of itsproperty taxes, or transfers ownership of its business, the town council shallhave the authority to review and terminate the tax exemption or stabilizationagreement.

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