Select your state

Taxes

personal property tax

Many states assess a personal property tax on certain items of personal property such as motor vehicles, boats, and aircraft. Business personal property taxes—taxes on tangible personal property items that are used to produce income—are often referred to as ad valorem taxes.

In Rhode Island, personal property tax is levied on certain items of personal property, which includes motor vehicles, boats, and aircraft. The tax is assessed by local municipalities and is based on the value of the property. Each city or town in Rhode Island has its own tax assessor who determines the value of personal property for tax purposes. This valuation process is known as ad valorem taxation, meaning that the tax is based on the assessed value of the item. Business personal property, which encompasses tangible items used in the operation of a business to generate income, is also subject to personal property tax in Rhode Island. Businesses are required to report their personal property to the local tax assessor annually for assessment and taxation. Tax rates and exemptions can vary by municipality, and there are certain exemptions and tax relief programs available for eligible taxpayers, such as for veterans or elderly residents.

Legal Articles

State Statutes

Individual & Family Legal Plan

As a LegalFix member, you'll get expert legal services from a local law firm that treats you like an important client. Don't wait—be prepared for life's inevitable legal challenges starting today. And ask your employer, credit union, or membership group about preferred pricing opportunities.

Taxes

personal property tax

Individual & Family Legal Plan

Articles

Rhode-Island State Code

Rhode-Island State Code

Taxes

personal property tax

Articles