2023 Rhode Island General Laws › Title 44 - Taxation › Chapter 44-5 - Levy and Assessment of Local Taxes › Section 44-5-12.1. - Assessment of tangible personal property.

§ 44-5-12.1. Assessment of tangible personal property.
(a)
All tangible personal property subject to taxation shall be assessed for taxation based on the original purchase price (new or used) including all costs such as freight and installation. Assets will be classified and depreciated as defined in this section.
(b)
The following classification and depreciation table shall be used in determining the assessed value of tangible personal property.
State of Rhode Island Tangible Property Classification
Class I
Class II
Class III
Class of Assets
Short Life
Mid-Life
Long Life
Age
1-5 yrs
6-12 yrs
13+ yrs
1
95
95
95
2
80
90
90
3
60
80
85
4
30
70
80
5
20
60
75
6
20
50
70
7
20
40
65
8
20
30
60
9
20
30
55
10
20
30
50
11
20
30
45
12
20
30
40
13
20
30
35
14
20
30
30
15+
20
30
30
Assets Shall Not be Trended
(c)
Assets shall be classified on an annual basis by the Rhode Island Association of Assessing Officers’ Personal Property Committee based on the following table:
INDUSTRY GROUP IN YEARS
CLASS
Agriculture machinery and equipment
II
Aircraft and all helicopters
II
Amusement and theme parks
II
Apparel and fabricated textile manufacturing
II
Automobile repair shops
II
Bakeries and confectionery production
II
Barber and beauty shops
II
Billboards
III
Brewery equipment not used directly in manufacturing
II
Cable television, headend facilities:
II
Microwave systems
II
Program origination
II
Service and test
II
Subscriber connection and distribution
II
Canneries and frozen food production
II
Cement processing
III
Chemical and allied production
II
Clay products processing
III
Cold storage and ice-making equipment
III
Cold storage warehouse equipment
II
Computers, personal computers (PC), laptops, tablets, cellphones,
mainframe/servers, peripherals, keyboard, mouse
I
Condiments, processing
II
Construction equipment, general construction, backhoes,
forklifts, loaders, cranes, unregistered vehicles
II
Dairy products processing
II
Data handling equipment, except computers
II
printers, copiers, bridges, routers and gateways
II
Distilling
II
Electrical equipment not used in manufacturing
II
Electronic equipment
II
Fabricated metal products/special tools
II
Fishing equipment, excluding boats and barges, lines, nets
I
Food and beverage production
II
Fur processing
II
Gas distribution, total distribution equipment
III
Glass and glass products/special tools
II
Grain and grain mill products processing
III
Gypsum products
III
Hand tools
II
Hospital furnishings and equipment
II
Hotel and motel furnishings and equipment
II
Jewelry products and pens
II
Knitwear and knit products, ex, work uniforms
I
Laundry equipment
II
Leather and leather products
II
Logging, timber cutting
II
Marine construction
II
Meatpacking
II
Medical and dental supply production
II
Metalworking machinery processing
II
Mining and quarrying
II
Motion picture and television production
II
Motor vehicle and parts/special tools
II
Office furniture and equipment
II
Optical lenses and instrument processing
II
Paints and varnishes
I
Petroleum refining
III
pipeline transportation
III
Plastics manufacturing
I/II
Plastic products processing/special tools
II
Primary metals production, nonferrous and foundry products
III
special tools
III
Primary steel mill products
III
Printing and publishing
II
Professional and scientific instruments
II
Radio and television, broadcasting
II
Railroad transportation equipment
II
locomotive
II
Recreation and amusement
II
Retail trades, fixtures and equipment
II
Residential furniture
II
Restaurant and bar equipment
II
Restaurant equipment, fast foods
II
Rubber products processing/special tools
II
Sawmills, permanent/portable
II
Service establishments
II
Ship and boat building equipment/special tools
II
Soft drink processing and bottling
II
Stone products processing
III
Telecommunications, local and interstate
II
analog switching
II
circuit, digital, analog, optic
II
information/origination equipment
I/II
smart phones
I
metallic cable
III
fiber cable, poles, conduit
III
all other equipment
II
Telecommunications, cellular
analog/digital switching
II
radio frequency channel and control
II
power equipment
II
antennae
II
towers
III
transmission equipment
II
cellular phones
I
Textile products, including finishing and dyeing
II
yarn, thread and woven fabrics
II
Theater equipment
II
Utilities/power production
III
generation, transmission, or distribution equipment
III
Waste reduction and resource recovery
II
Water transportation
III
vessels, barges and tugs
III
Water utilities
III
Wharves, docks and piers
III
Wholesale trade fixtures and equipment
II
Wood products and furniture manufacturing
II
(d)
Any industry, group, or asset not enumerated in subsection (c) of this section, shall be categorized as class II.
History of Section.
P.L. 2006, ch. 383, § 2; P.L. 2006, ch. 434, § 2; P.L. 2018, ch. 315, § 1; P.L. 2018, ch. 352, § 1; P.L. 2021, ch. 422, § 1, effective July 17, 2021.