[Adopted 9-12-2016 by Ord. No. 374]
The purpose of this article shall be to provide a tangible property tax assessment exemption to businesses that have tangible business property within Charlestown, pursuant to R.I.G.L. Title 44, Chapter 3, Sections 3(48), 3.1 and 40.
Any business applying for this tangible tax exemption shall be deemed eligible upon complying with the following:
A. 
Complete and submit the Tangible Tax Declaration Form to the Town Tax Assessor annually. Any business not submitting a Tangible Tax Declaration Form will not be eligible for this exemption.
B. 
Declare taxable property to the Assessor between December 31 and January 31. If the taxpayer is unable to make such a declaration within the prescribed time, they may submit written notice, prior to January 31, of intention to submit declaration by March 15. Failure to file a true and full account within the prescribed time eliminates the right to appeal and eliminates the eligibility for this exemption
A tax assessment exemption of ten thousand dollars ($10,000) per business account.