Rhode Island Governor Signs Law Authorizing Town of Cumberland to Exempt, Stabilize Certain Property Taxes

The Rhode Island Governor March 22 signed a law authorizing the Town of Cumberland to exempt or stabilize property tax on qualifying property used for various purposes. The law includes a measure authorizing the town to exempt real and personal property from taxation or determine a stabilized amount of taxes to be paid for real and personal property located in the town, which has undergone environmental remediation, is historically preserved, or is used for affordable housing, manufacturing, commercial, residential, or mixed-use purposes. The law is identical to S.B. 239. The law took effect March 21. [/RI\FINAL\2023R1HB5288///, enacted ...