ALERT: (3:40pm) There is a water main break in the area of Almeida Ave.  Water pressure is being affected throughout the city.  Crews are working to correct the problem and hope to have the issue resolved shortly.  Thank you for your patience.  

Tax Stabilization Program

In 1999, the City of East Providence adopted its first Commercial Tax Stabilization Program.  The City of East Providence has recently ( December 2013) made important changes to the program that expand the criteria for participation.  Under the newly established ordinance, legally permitted commercial and industrial facilities within the city may still participate but under the revised ordinance, all legally permitted apartments, condominium complexes, and hotels which meet the qualifications are also eligible to participate and all new business tangible property which meets the qualifications established by the ordinance are eligible to participate. 

Benchmarks for the program have been modified.  The minimum threshold for participation in the stabilization program by existing eligible properties is $150,000 in taxable improvements as determined by the city tax assessor.  The minimum threshold for new eligible and tangible business equipment is $500,000.  In addition, applicants for stabilization of tangible business equipment must document the creation or relocation of no fewer than 10 full time equivalent jobs (FTE's) to receive stabilization.

For expansion or renovation of any existing facility, construction of a new facility, the addition of tangible business property, or leasehold improvements, excepting instances where the proposed taxable improvements are in excess of $5,000,000, the percentage of new added taxable assessment shall be stabilized is in accordance with the following tax exemption schedule:

 

YEAR

% EXEMPT FROM TAX

1

100%

2

80%

3

60%

4

40%

5

20%

6

0%

The extended stabilization program, for larger projects amounting to more than $5,000,000 in assessed improvements, is based upon the following schedule:

YEAR

% EXEMPT FROM TAX

1

100%

2

90%

3

80%

4

70%

5

60%

6

50%

7

40%

8

30%

9

20%

10

10%

11

0%

Note: The extended stabilization program is subject to the approval of the City Council. 

For more information regarding this program contact the Department of Planning and Urban Development at (401) 435-7531  Ext. 11153.

Tax Stabilization Ordinance (PDF)

Tax Stabilization Application (PDF)