All ratable property in the city shall be classified by the tax assessor as follows:
A. 
Class 1: In the city, all ratable real estate and tangible personal property.
B. 
Class 2: In the city, all motor vehicles and trailers subject to the excise tax created by Chapter 34 of Title 44, of the Rhode Island General Laws.
(Prior code § 2-33.43)
A. 
The tax assessor of the city, on or before June 15th of each year, shall make a full and fair cash valuation of all the estate, real and personal, and motor vehicles subject to taxation herein, and determine the assessed valuation of each property class.
B. 
The tax assessor shall have the authority to apply different rates of taxation against Class 1 and Class 2 property to determine the tax due and payable on the property, provided, however, such rate of taxation shall be uniform.
(Prior code § 2-33.44)
The tax assessor of the city shall provide to the city council a list containing the full and fair cash valuation of each property class, and with the approval of the city council, annually determine the percentages of the tax levy to be apportioned each class of property and shall annually apply tax rates sufficient to produce the proportion of the total tax levy.
(Prior code § 2-33.45)
A. 
Upon completion of any comprehensive revaluation, the tax assessor will adopt a tax classification plan with the following limitations:
1. 
The designated classes of property shall be limited to four classes as defined herein.
2. 
The effective tax rate applicable to any class shall not exceed by fifty (50) percent the rate application to any other class.
3. 
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.
4. 
Notwithstanding subsections (A)(2) and (A)(3) above, the tax rates applicable to wholesale and retail inventory within class 3 as defined below.
5. 
Notwithstanding subsections (A)(2) and (A)(3) above, the tax rates applicable to motor vehicles within class 4 as defined below.
B. 
Classes of Property.
1. 
Class 1: Residential real estate consisting of no more than five dwelling units, land classified as open space, and dwellings on leased land.
2. 
Class 2: Commercial and industrial real estate, residential properties containing partial commercial business uses and residential and residential real estate of more than five units.
3. 
Class 3: All ratable tangible personal property.
4. 
Class 4: Motor vehicles and trailers subject to excise tax.
(Ord. 03-22 § 1)
The City Council of the City of Cranston hereby creates a tax exemption for tangible business property having a value less than five thousand dollars ($5,000.00). The finance director is to report back on the effects by January 1, 2016.
(Ord. 2014-30, 11/14/2014)
A. 
Applicability. The adopted tangible and real estate tax value and formula shall be effective January 1, 2017 for any renewable energy resource projects that execute interconnection service agreements with the electric distribution company after that date.
B. 
Definitions. For the purposes of this section, the following terms shall have the following meanings:
1. 
"A/C"
means alternating current for the nameplate capacity of the commercial renewable energy system.
2. 
"Eligible renewable energy resources"
mean those technologies defined under RIGL 39-26-5.
3. 
"$/per kW"
means the kilowatt/dollar/kilowatt amount adopted through the regulations that municipalities will be compensated from a commercial renewable energy system annually.
4. 
"Office"
means the Rhode Island Office of Energy Resources.
5. 
"REG program"
means the renewable energy growth program where a renewable energy system sells electricity through a fifteen (15) or twenty (20) year tariff with National Grid and any applicable extensions. At the end of the fifteen (15) or twenty (20) year period, a system may be converted to virtual net metering as defined herein for the remaining life of the system.
6. 
"Net metering"
means a renewable energy system installed on a property that is offsetting electric bills pursuant to R.I. Gen. Laws § 39-26.4-1 et seq. The typical contract period for net metering is twenty-five (25) years (consistent with the estimated productive life of the system).
7. 
"Virtual net metering"
means a renewable energy system that is installed on private or public property where the off-taker of the electricity is a municipality, public school, state or quasi-state public entity pursuant to R.I. Gen. Laws § 39-26.4-1 et seq. The typical contract period for virtual net metering is twenty-five (25) years (consistent with the estimated productive life of the system).
C. 
Tangible Tax Value for Commercial Renewable Energy Systems. The following formula and associated five dollars ($5.00) per kW is adopted by the city of Cranston in establishing the tangible tax value for commercial renewable energy systems to provide reasonable compensation to the city effective January 1, 2017.
Five dollars ($5.00) per kW × __________ kilowatt A/C capacity of the commercial renewable energy system = $__________
Example 1: A two megawatt ground mount solar system that will be receiving a twenty-five (25) year tariff under the REG program and selling the electricity back to National Grid.
Five dollars ($5.00) kW × two thousand (2,000) kW A/C capacity of the commercial renewable energy system =
Ten thousand dollars ($10,000.00) annual revenue to the city.
Two hundred fifty thousand dollars ($250,000.00) total revenue over the twenty-five (25) year REG program tariff to the municipality.
Example 2: A 1.5 megawatt wind turbine system that will be receiving a twenty-five (25) year tariff under the REG program and selling the electricity back to National Grid.
Five dollars ($5.00) kW × one thousand five hundred (1,500) kW A/C capacity of the commercial renewable energy system =
Seven thousand five hundred dollars ($7,500.00) annual revenue to the city.
One hundred eighty-seven thousand five hundred dollars ($187,500.00) total revenue over the twenty-five (25) year REG program tariff to the municipality.
D. 
Real Estate Tax Value for Commercial Renewable Energy Systems. The following formula and associated two dollars ($2.00) per kw is adopted by the city of Cranston in establishing the real estate tax value for properties containing commercial renewable energy systems to provide reasonable compensation to the city effective January 1, 2017.
Two dollars ($2.00) per kW × __________ kilowatt A/c capacity of the commercial renewable energy system = $__________
Example 1: A two megawatt ground mount solar system that will be receiving a twenty-five (25) year tariff under the REG program and selling the electricity back to National Grid.
$2.00 kW × 2,000 kW A/C capacity of the commercial renewable energy system =
Four thousand dollars ($4,000.00) annual revenue to the city.
One hundred thousand dollars ($100,000.00) total revenue over the twenty-five (25) year REG program tariff to the municipality
Example 2: A 1.5 megawatt wind turbine system that will be receiving a twenty-five (25) year tariff under the REG program and selling the electricity back to National Grid.
Two dollars ($2.00) kW × one thousand five hundred (1,500) kW A/C capacity of the commercial renewable energy system =
Three thousand dollars ($3,000.00) annual revenue to the city.
Seventy-five thousand dollars ($75,000.00) total revenue over the twenty-five (25) year REG program tariff to the municipality.
E. 
Waiver for Renewable Systems not Selling Power. Pursuant to RIGL § 44-3-21, the city of Cranston shall not assess a tangible tax on all commercial renewable energy systems or specifically on net-metered systems that are strictly designed to offset and reduce electricity bills on a property and not developed for commercial revenue purposes. For any renewable energy systems that are installed on residential and manufacturing properties, such renewable energy equipment shall be exempt from local taxation per RIGL § 44-3-3, subsections (48) and (49).
F. 
Reporting. All commercial renewable energy systems shall be required to provide the tax assessor with a copy of the initial interconnection application and final interconnection service agreement and any documentation of program enrollment (e.g., renewable energy growth or net metering enrollment forms), indicating whether the commercial renewable energy system is either a REG program, net-metered, or virtual net metered installation.
G. 
Decommissioning or Abandonment of Commercial Renewable Energy Systems. If at any time a commercial renewable energy system has been decommissioned or abandoned as defined in Chapter 17.24.020 entitled "solar power performance standard," the real estate and tangible tax treatment and formula for the commercial renewable energy system shall no longer apply effective December 31st of the following year in which the commercial renewable energy system has been decommissioned or abandoned. The tax assessor shall then resume the taxing of the ratable property in accordance with state law.
H. 
Severability. If any provision of this section or the application thereof to any person or circumstance, is held invalid by a court of competent jurisdiction, the validity of the remaining provisions of this section shall not be affected thereby.
(Ord. 2017-11, § 1, 4/24/2017)
Any taxpayer engaged in the business of renting or leasing motor vehicles with a minimum of sixty (60) vehicles in accordance with Section 5.80.030 of this code shall be entitled to apply to the city tax assessor for a motor vehicle tax incentive. Each application shall identify the name and address of the taxpayer, each vehicle for which a tax abatement is requested, and any other information reasonably requested by the tax assessor and shall be submitted no later than a date announced by the tax collector. Upon a determination of qualification by the tax assessor, such taxpayer shall be entitled to a motor vehicle tax incentive as hereinafter set forth.
A. 
Abatement of Motor Vehicle Taxes. Each qualifying taxpayer shall receive a motor vehicle tax abatement in an amount to be determined pursuant to this section. Said abatement shall be in the form of a reduction in the total of all motor vehicle taxes to be paid by the same taxpayer in the tax year following the year in which said abatement accrued (e.g. an abatement accruing against the motor vehicle tax payable for a vehicle assessed as of December 31, 2017, which tax is due beginning in the month of July, 2018, shall be applied as a reduction to the motor vehicle taxes to be paid by said taxpayer during the twelve month period commencing on July 1, 2019).
B. 
Amount of Motor Vehicle Tax Abatement. A motor vehicle tax abatement shall be calculated as follows:
1. 
For the first sixty (60) vehicles, all taxes in excess of four hundred fifty dollars ($450.00) per year, per vehicle shall be abated.
2. 
For more than sixty (60) vehicles, but less than one hundred vehicles (100) all taxes in excess of four hundred dollars ($400.00) per year, per vehicle shall be abated.
3. 
For more than one hundred (100) vehicles, but less than one hundred fifty (150) vehicles, all taxes in excess of three hundred fifty dollars ($350.00) per year, per vehicle, shall be abated.
4. 
For more than one hundred fifty (150) vehicles, all taxes in excess of three hundred dollars ($300.00) per year, per vehicle, shall be abated.
C. 
No vehicle with an assessed value greater than forty thousand dollars ($40,000.00) shall qualify for an abatement pursuant to this section.
(Ord. 2017-30, § 1, 8/28/2017)