[Adopted 5-23-2005 by Ord. No. 5-05-0245 (Ch. 16, Art. V, of the 1991 Code)]
[Amended 5-11-2015 by Ord. No. 03-15-301[1]]
A. 
All ratable property in the Town shall be classified by the Tax Assessor as follows:
(1) 
Class 1: residential real estate consisting of no more than five dwelling units, land classified as open space, and dwellings on leased land, including mobile homes, including real estate upon which mobile homes are constructed, including residential properties which received and maintain a special use permit from the Zoning Board of Review for parking or storage of a commercial vehicle with a GVW not exceeding 20,000 pounds.
(2) 
Class 2: commercial and industrial real estate, residential properties containing partial commercial or business uses and residential real estate of more than five dwelling units.
(3) 
Class 3: all ratable tangible personal property; excluding wholesale and retail inventory, which shall be taxed in accordance with R.I.G.L. § 44-3-29.1.
(4) 
Class 4: motor vehicles and trailers subject to the excise tax created by Chapter 34 of Title 44 of the Rhode Island General Laws.[2]
[2]
Editor's Note: See R.I.G.L. § 44-34-1 et seq.
B. 
The tax rate applicable to any class shall not exceed by 200% the rate applicable to any other class.
C. 
Any tax rate changes from one year to the next shall be applied such that the same percentage rate change is applicable to all classes.
D. 
Notwithstanding Subsections A and B, the tax rates applicable to wholesale and retail inventory within Class 3 as defined in Subsection B are governed by R.I.G.L. § 44-3-29.1.
E. 
Notwithstanding Subsections A and B, the tax rates applicable to motor vehicles within Class 4 are governed by R.I.G.L. § 44-34.1-1.
F. 
Notwithstanding Subsections A and B, the tax rates applicable to residential real estate within Subsection B are governed by R.I.G.L. § 44-5-70.
G. 
The provisions of R.I.G.L. Title 44, Chapter 35, relating to property tax and fiscal disclosure apply to the reporting of and compliance with these classification restrictions.
H. 
Renewable energy systems.
[Added 6-26-2017 by Ord. No. 01-17-313]
(1) 
In accordance with Section 44-5-3(c) of the Rhode Island General Laws (circa 2017), the assessor is authorized to levy a tax on renewable energy tangible property as defined in § 39-26-5 in accordance with the rules and regulations executed by the Rhode Island Office of Energy Resources.
(2) 
In accordance with § 44-3-21 of the Rhode Island General Laws (circa 2017), commercial net-metered renewable energy systems whose sole purpose is to offset electricity bills and not to sell power back to the electric distribution system are exempt from taxation by the Town.
[1]
Editor's Note: This ordinance also provided that this amendment is pursuant to enabling legislation P.L. 2015, Ch. 6, 7 (effective without Governor’s signature 3-19-2015); H5043 and S28.
A. 
The Assessor of the Town of Coventry shall, at the appointed time, make a full and fair cash valuation of all the estate, real and personal, and motor vehicles subject to taxation in the Town, and determine the assessed valuation of each property class.
B. 
The Assessor shall have the authority to apply different rates of taxation against Class 1, Class 2, Class 3 and Class 4 properties to determine the tax due and payable on the property.
The Assessor of the Town of Coventry shall provide to the Town Council of Coventry a list containing the full and fair cash valuation of each property class and, with the approval of the Town Council, annually determine the percentages of the tax levy to be apportioned to each class of property and shall annually apply tax rates sufficient to produce the proportion of the total tax levy.