Municipal Business Incentives
State legislation (http://www.rilin.state.ri.us/Statutes/TITLE44/44-3/44-3-9.HTM) enables local governments in Rhode Island to exempt or stabilize real estate and/or personal property taxes associated with manufacturing and commercial uses. Many jurisdictions in the state phase-in the added property valuation resulting from renovation, expansion or new construction of manufacturing, industrial and commercial buildings. Some municipalities offer other types of incentives. The table below is a summary of business incentives available from local jurisdictions. Please contact the appropriate municipal official or local office for detailed, current information.
| City/Town | Industrial/Commercial Property Tax Incentives | Other Programs/ Incentives | Local Contact Person |
|---|---|---|---|
| Bristol | Increased assessments may be phased in over 5 years for eligible industrial, commercial & manufacturing renovation, expansion or new construction. Requires job creation in proportion to increase in facility size. |
|
Diane Williamson Director of Community Development (401) 253-7000 |
| Burrillville | Increased assessments may be phased in over 10 years on eligible manufacturing or commercial projects. |
|
Thomas J. Kravitz Director of Economic Development (401) 568-4300 |
| Central Falls |
|
Wayne Brown Tax Assessor (401) 727-7430 |
|
| Coventry | Property assessments for business in the Centre of New England Business Park may be phased in over 10 yrs. |
|
Warren West Finance Director (401) 822-9130 |
| Cranston | Increased property assessments may be phased in over 5 years for eligible new, expanded (over 20% expansion) or renovated (over $250,000) industrial properties. Five or ten-year phase-in of property assessments for new development or business expansions within industrial or commercially-zoned property (non-retail). |
|
Paula A. Rocha Director of Economic Development (401) 780-3167 |
| Cumberland | Property tax stabilization is available on a case-by-case basis. Firms locating in the Highland Corporate Park II may have property taxes fixed for 5 years after project completion. The levy on the building value is increased by 5% per year for years 6-10. |
|
John Aubin III Planning & Community Development Director (401) 728-2400 |
| East Greenwich |
|
William Sequino Jr. Town Manager (401) 886-8676 |
|
| East Providence | Increased property assessments may be phased in over 5 years for eligible new, expanded or renovated industrial properties costing under $1 million. Length of phase-in for projects over $1 million is determined by the City Council. Terms up to 20 years. |
|
Jeanne Boyle Planning Director (401) 435-7531 |
| Glocester |
|
Viviane Valentine Assessor (401) 568-6206, # 3 |
|
| Hopkinton | Property tax stabilization may be available on a case-by-case basis. | Steven Hazard Assessor (401) 377-7780 |
|
| Lincoln | Property tax stabilization may be available on a case-by-case basis. |
|
Elaine M. Mondillo Tax Assessor (401) 333-8448 |
| Middletown | A portion of the increased valuation is exempted over a period of 3-5 years for eligible renovation, expansion or new construction. Requires job creation, with percentage of exemption determined by number of jobs created. |
|
Ron Wolanski Town Planner (401) 849-4027 |
| Newport | Increased property assessments may be phased in over 5 years for eligible re-use or renovation (over $100,000) of commercial and industrial buildings that are more than 50 years old. |
|
Mr. Paige Bronk Director of Planning (401) 845-5450 |
| New Shoreham (Block Island) |
|
Nancy Dodge Town Manager (401) 466-3210 |
|
| North Kingstown | Increased assessments from new construction for a manufacturing, office and commercial enterprises located in the Quonset Business Park may be phased in over 5 years. Renovation of existing facilities is not eligible. |
|
Jonathan Reiner Planning & Development Director (401) 294-3331, #310 |
| North Providence |
|
Bernard Salvatore Planning Director (401) 232-0900 |
|
| North Smithfield | Property tax stabilization or exemption may be available for new facilities & existing businesses that expand their facilities. The tax stabilization schedule (up to 10 years) must be negotiated and approved by the Town Council. |
|
Michael Phillips Town Planner (401) 767-1310, #312 |
| Pawtucket | The city offers a financial incentive for new and existing businesses to construct and/or substantially renovate industrial and commercial facilities. New or additional municipal property tax assessments are phased-in according to a schedule that is directly related to the creation of new or expanded employment opportunities for Pawtucket residents. |
|
Michael D. Cassidy Director of Planning (401) 724-5200 |
| Portsmouth | The new added taxable assessment from expansion or renovation of an existing facility or construction of a new facility in the local Enterprise Zone is phased-in over a 5-year period. The Town Council may also negotiate property tax stabilization on a case-by-case basis. |
|
Bill Clark Business Development Director (401) 643-0382 |
| Providence | The City Council may exempt property used for industrial purposes from the payment of property tax. The estimated cost of new construction or renovation must exceed twenty (20) per cent of the assessed value of the industrial property or $100,000, whichever is less. In Year 1, the abatement is fifty (50) percent of the assessed valuation of the property attributable to new construction. In each subsequent year, the percentage abated decreases by 5%, expiring at the end of year 10. |
|
Don Eversley President, PEDP (401) 351-4300 Ext. 604 |
| Smithfield | Property tax stabilization may be available on a case-by-case basis. |
|
Fred Presley Director of Planning & Economic Development (401) 233-1017 |
| South Kingstown | Property tax stabilization may be available on a case-by-case basis. | L. Vincent Murray Director of Planning (401) 789-9331 |
|
| Tiverton | The town offers a 3-year, phased-in assessment on all improvements made within the local Enterprise Zone. The assessment begins at 25% in year 1, rising to 100% in year 4. |
|
W. Glenn Steckmann Town Administrator (401) 625-6710 |
| Warren | The new added taxable assessment from expansion or renovation of an existing facility or construction of a new industrial, commercial or manufacturing facility is phased-in over 5 years. |
|
Michelle Maher Town Planner (401) 245-2469 |
| Warwick |
|
Karen Jedson Director of Tourism, Culture & Development (401) 738-2000, ext 6202 |
|
| Westerly | The new added taxable assessment from expansion or renovation of an existing facility or construction of a new industrial, commercial or manufacturing facility is phased-in over 5-20 years, depending upon the type of use. The estimated cost of new construction or renovation must exceed twenty (20) per cent of the assessed value of the industrial property or $100,000, whichever is less. | Charles E. Vacca Town Assessor (401) 348-2541 |
|
| West Warwick | The added taxable assessment from expansion or renovation of an abandoned building, or, from construction of a new commercial or manufacturing facility can be phased-in over 5 years. |
|
Robert Malavich Town Planner (401) 827-9026 |
| Woonsocket | The new added taxable assessment from expansion or renovation of an existing facility or construction of a new industrial, commercial or manufacturing facility is phased-in over 5-10 years, depending upon the type of use. Requires job creation. |
|
Jeff Polucha Economic Development Director (401) 767-9203 |
Contact Information
-
Irena Nedeljkovic-Cunningham
Research Manager
401-278-9100 ext. 122 read bio