§ 45-25-30 - Payments in lieu of local property tax. - Rhode-island Statutes

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Statutes > Rhode-island > Title-45 > Chapter-45-25 > 45-25-30

SECTION 45-25-30

§ 45-25-30 Payments in lieu of localproperty tax. – The property of an authority is exempt from all local and municipal taxes. Anauthority 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 inrespect of each project; or

(2) Agree that an authority not pay or be liable to pay anysum 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 bepaid by the authority for any year or years in respect of a project orprojects, or accept or agree to accept a fixed sum or other consideration inlieu of the payment.

State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-25 > 45-25-30

SECTION 45-25-30

§ 45-25-30 Payments in lieu of localproperty tax. – The property of an authority is exempt from all local and municipal taxes. Anauthority 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 inrespect of each project; or

(2) Agree that an authority not pay or be liable to pay anysum 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 bepaid by the authority for any year or years in respect of a project orprojects, or accept or agree to accept a fixed sum or other consideration inlieu of the payment.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-25 > 45-25-30

SECTION 45-25-30

§ 45-25-30 Payments in lieu of localproperty tax. – The property of an authority is exempt from all local and municipal taxes. Anauthority 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 inrespect of each project; or

(2) Agree that an authority not pay or be liable to pay anysum 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 bepaid by the authority for any year or years in respect of a project orprojects, or accept or agree to accept a fixed sum or other consideration inlieu of the payment.