§ 44-3-10 - Idle manufacturing or mill property – Exemption. - Rhode Island Statutes

SECTION 44-3-10

   § 44-3-10  Idle manufacturing or millproperty – Exemption. – The city council of any city or the town council of any town may, with theapproval of the tax administrator appointed pursuant to the provisions of§ 44-1-1, wholly or partially exempt from taxation for a period of notexceeding one year manufacturing or mill buildings in which manufacturing hasnot been carried on for at least one year immediately prior to the granting ofthe exemption, and, if so determined, the personal property located in the cityor town, with like power to repeat the action as often as may be deemed best;provided, that the owner agrees in writing with the tax administrator that thebuilding or buildings so exempted shall not be torn down and that the personalproperty, if exempted, shall not be removed from the premises during the periodfor which the exemption is granted; and, provided, that the owner of thebuilding or buildings agrees in writing with the tax administrator upon a pricethat the owner will accept for the property so exempted during the period ofthe exemption.