§ 37-18-9 - Exemption from taxation – Payments in lieu of taxes. - Rhode Island Statutes

SECTION 37-18-9

   § 37-18-9  Exemption from taxation –Payments in lieu of taxes. – (a) The corporation shall not be required to pay any taxes or assessments uponor in respect to any property of the corporation levied by the town.

   (b) The corporation shall make payments in lieu of realproperty taxes and assessments to the town with respect to income producingprojects of the corporation located in the town, and for police, fire,sanitation, health protection, and municipal services provided by the town tothe real estate held by the corporation in the town. The payments in lieu oftaxes shall be in such amounts as shall be agreed upon by the corporation andthe town.