§ 45-48.1-19 - Tax exemption. - Rhode Island Statutes

SECTION 45-48.1-19

   § 45-48.1-19  Tax exemption. – Except as may be required by chapter 15.3 of title 46, the district and all itsrevenues, income and real and personal property shall be exempt from taxationand from betterments and special assessments and the district shall not berequired to pay any tax, excise or assessment to or for the state or any of itspolitical subdivisions; provided, however, that the district is authorized toenter into agreements to make annual payments in lieu of taxes with respect toproperty of the district located outside the town. Bonds and notes issued bythe district and their transfer and the income therefrom, including any profitmade on the sale or exchange thereof, shall at all times be exempt fromtaxation by the state and all political subdivisions of the state. The districtshall not be required to pay any transfer tax of any kind on account ofinstruments recorded by it or on its behalf.