[Adopted 9-14-1999 by Ord. No. 679 (Sec.
21-181 of the 1993 Code)]
In accordance with R.I.G.L. § 44-3-29.1,
the inventory tax of wholesalers and retailers shall be phased out
in accordance with the terms of said statute. The East Greenwich rate
schedule for the phase-out period shall be as follows:
|
Year
|
Tax Rate
|
|---|---|
|
FY 1999
|
$23.70 per $1,000 of assessed valuation
|
|
FY 2000
|
90% of FY 1999 rate
|
|
FY 2001
|
80% of FY 1999 rate
|
|
FY 2002
|
70% of FY 1999 rate
|
|
FY 2003
|
60% of FY 1999 rate
|
|
FY 2004
|
50% of FY 1999 rate
|
|
FY 2005
|
40% of FY 1999 rate
|
|
FY 2006
|
30% of FY 1999 rate
|
|
FY 2007
|
20% of FY 1999 rate
|
|
FY 2008
|
10% of FY 1999 rate
|
|
FY 2009
|
No tax authorized
|
