[Adopted 6-22-1993 by Ord. No. 595 as
Secs. 21-161 to 21-169 of the 1993 Code]
The Town Council finds that preservation of
the Town's historic residences enhances an understanding of the Town's
and state's heritage, improves property values, fosters civic beauty
and promotes education, pleasure and welfare.
The following words, terms and phrases, when
used in this article, shall have the meanings ascribed to them in
this section, except where the context clearly indicates a different
meaning:
Any maintenance or rehabilitation of an historic residence
consistent with the character of that property or district, as determined
in accordance with Commission guidelines.
The State Historical Preservation Commission created pursuant
to R.I.G.L. § 42-45-2.
An historic residential property which is not of a character
subject to federal depreciation allowance pursuant to Section 167
or 168 of the Internal Revenue Code and which is:
Listed individually in the state register of
historic places;
Located in a district listed in the state register
of historic places and certified by the Commission as contributing
to the historic character of that district;
Located in a local historic district zone as
designated by a city or town under R.I.G.L. § 45-24.1-1
and certified by the Commission as contributing to the character of
that historic district zone; or
Designated by a city or town as an individual
structure subject to regulation by a local historic district commission
under R.I.G.L. § 45-24.1-1.
In order to further the purpose of this article, the Town will provide up to a twenty-percent reduction in property tax liability each year for a period of up to five years to an owner of an historic residence who incurs substantial maintenance or rehabilitation costs in accordance with this article. The reduction in property tax liability each year shall equal 4% of the total costs of such maintenance or rehabilitation, as certified by the Commission, up to a maximum of 20% of the total property tax bill for each year, subject to the provisions of § 227-32.
The property tax reduction available under the provisions of § 227-31 shall not exceed the sum of $8,000 for any historic residence with respect to the property tax assessed as of December 31, 1988; thereafter, the Town Council may establish a new maximum amount of reduction for each year that this program is in existence.
[Amended 8-28-2006 by Ord. No. 772]
Upon completion of maintenance or rehabilitation
for which the owner of an historic residence seeks property tax reduction,
the owner shall apply to the Commission for relief under this article.
Upon receiving such application, the Commission shall notify the Assessor
when all work has been completed and approved by the Commission. The
Commission shall inspect the maintenance or rehabilitation of the
historic residence and make a recommendation to the Town Assessor,
who shall comply with the Commission's guidelines. The Commission
may establish a schedule of reasonable fees for the processing of
inspection of maintenance and rehabilitation. The property tax reduction
shall commence in the year subsequent to the inspection by which the
maintenance or rehabilitation was approved. An owner who receives
a property tax reduction pursuant to this article shall, upon completion
of further maintenance or rehabilitation which again fulfills the
necessary requirements of this article, receive a new five-year property
tax reduction commencing on the approval of the most recent application.
No historic residence maintained or rehabilitated
may benefit from the provisions of this article unless the owner of
such historic residence grants a restrictive covenant to the Commission,
agreeing that the historic residence shall retain its use and be maintained
in a manner which preserves the historic residence's rehabilitated
portions and the historic residence's historic character for a period
equal to the length of the property tax reduction, or until title
to the property is transferred.
In the event of the failure of the owner to
keep the property nondepreciable or to maintain the property according
to the Commission's guidelines during the period of the tax reduction,
the owner shall forfeit the property tax reduction retroactive to
the date the reduction commenced. All differences in the amount of
taxes that were paid and those that would have been due but for the
reduction shall be payable, together with interest of 12% per annum,
from the respective dates that the payments would have been due and
shall be a lien against the historic residence. If the property is
transferred to a new owner within the period that the tax reduction
applies, the original owner shall similarly forfeit the tax reduction.
The Tax Assessor shall promulgate all application
and certification forms. The Commission shall establish guidelines
for the maintenance and rehabilitation of historic residences.
Appeal of decisions of the Tax Assessor shall
be to the Tax Appeal Board for a full hearing de novo.
