Title 44
Taxation

Chapter 3
Property Subject to Taxation

§ 44-3-9.1.1. Woonsocket — Rehabilitation exemption for qualified residential structures in the city.

(a)(1) The tax assessor of the city of Woonsocket is authorized to grant a rehabilitation exemption from taxation for certain qualified residential structures. A “qualified residential structure” is defined as a residential structure or structures which is or are certified by the building inspection services division of the city of Woonsocket as being eligible for exemption. Eligibility for the exemption may be provided if the following conditions are met:

(i) The property is strictly residential in nature, consisting of three (3) or more units on a single lot, and was acquired by the applicant at a date subsequent to its being certified as vacant by the building inspection services division. The building inspection services division will maintain a list of vacant properties, which will be updated monthly.

(ii) All permits necessary for the completed renovations, which will make the building(s) meet minimum housing codes must be issued and provided to the tax assessor from the building inspection services division. An inspection of the structure by the building inspection services division, including the owner, contractor, electrical contractor, and minimum housing inspector, shall be done prior to the beginning of renovation.

(2) Upon furnishing to the city assessor proof that the requirements of subdivision (1) of this subsection have been met, the assessor shall certify to the applicant, in writing, that the property is eligible.

(b) Upon certification of eligibility, the property shall receive the following rehabilitation exemption:

(1) For both owner occupied and non-owner occupied, the assessment for the next tax year, hereinafter called “the base year,” shall be zero percent (0%) of the previous year’s valuation;

(2) If owner occupied, the assessment for the second year following certification shall be twenty percent (20%) of the base year’s valuation. If non-owner occupied, the assessment for the second year shall be fifty percent (50%) of the base year’s valuation;

(3) If owner occupied, the assessment for the third year following certification shall be forty percent (40%) of the base year’s valuation. If non-owner occupied, the assessment for the third year following certification shall be one hundred percent (100%) of the base year’s valuation plus the value of the improvements added to the original valuation;

(4) If owner occupied, the assessment for the fourth year following certification shall be sixty percent (60%) of the base year’s valuation;

(5) If owner occupied, the assessment for the fifth year following certification shall be eighty percent (80%) of the base year’s valuation;

(6) If owner occupied, the assessment for the sixth year following certification shall be one hundred percent (100%) of the base year’s valuation plus the value of the improvements added to the original valuation.

(c) If the city of Woonsocket implements property revaluation during the program, the original base year’s valuation shall be replaced by the new assessed valuation with the percentage adjustment made as specified.

(d) The rehabilitation exemption shall not apply to any of the following types of properties:

(1) Mixed commercial and residential use;

(2) Commercial and/or industrial use;

(3) Single- and two-family properties;

(4) Properties damaged by fire which are covered by insurance;

(5) Properties boarded or secured to protect mortgagor’s interest, and not due to disrepair.

(e) The rehabilitation exemption shall cease upon the occurrence of any one of the following conditions:

(1) Property is sold or title transferred at any time during the term of said exemption;

(2) Failure to complete permitted work within a timely manner as determined by the building inspector;

(3) In properties that were owner-occupied, if the owner moves out of the property, the property’s exemption changes to whatever status it would be if it were in the non-owner occupied status.