204
TAXATION AND REVENUE SYSTEMS—RHODE ISLAND.
amount and in same manner; real estate used exclusively for
military purposes, owned by chartered or incorporated organ
izations approved by the adjutant general, composed of mem
bers of the national guard, naval militia, or independent
chartered military organizations; buildings and personal estate
of any incorporated public charity institution; 'property spe
cially exempt by charter unless exemption waived in whole or
in part; the real estate and personal property of any incorpo
rated volunteer fire engine company in actual service.
b. Assessment.—The state board of tax commission
ers has general charge and control over the taxation of
the corporate excess of manufacturing, mercantile, and
miscellaneous corporations; over the taxation of pub
lic service corporations; and over the tax on the les
sees of oyster grounds. These several taxes are paid
directly into the state treasury. The board is also
charged with conferring with and advising local as
sessors so as to produce uniformity in assessment
throughout the state. The board prepares uniform
assessment blanks for the cities and towns, and the
local officials are required to make from the records
such annual reports to the board as it may require.
In general, all real and tangible personal property
is assessed by the town or the city assessors in the
towns or cities in which it is located and all other per
sonal property in the town in which the owner resides.
Intangible personal property under the immediate
control of a guardian takes its situs at the residence
of the ward; that under the control of executors, ad
ministrators, or trustees at the residence of the per
son to whom the income is to be paid. But if such
ward or other person live outside the state, then such
property takes its situs at the residence of the guar
dian, executors, administrators, or trustees.
Intangible personal property of a copartnership is
taxed to the copartnership in the towm in which it
carries on its business. If the partners have places
of business in two or more towns, the intangible prop
erty is equitably apportioned between the several towns
in proportion to the tangible personal property in
each town in which said business is carried on, any de
duction for debts due from the partnership being made
in each town in the ratio of the tax in such town.
No shareholder is liable to taxation on shares held
in any corporation within or without the state, or in
any banking association, when the corporation in its
corporate capacity is taxed for an amount equal to
the value of its property and equal to the market value
of its shares; in case such corporation or association
is taxed less than said amount, such shareholder is
taxed only for the difference between the market value
of each share held and the proportionate amount per
share at which the corporation was last taxed.
Actual indebtedness may be deducted from personal
property liable to taxation.
Residents are not assessed on property taxed in
another state.
The time of assessment is fixed by each of the 38
towns and cities independently, so that, unless by
chance, the date would not be the same in any two
jurisdictions.
All property liable to taxation is to be assessed at
its full and fair cash value by the assessors. Every
person, corporation, or association is required to de
liver to the assessor a sworn list of the property
owned or under his control, specifying the value, which
value is not, however, binding upon the assessor.
Whoever neglects to bring in a sworn list has no
remedy if overassessed.
All property is required to be listed in separate
columns by the assessors, as land, buildings, and other
improvements, tangible personal property, and in
tangible personal property, and distinguishing those
who give in an account from those who do not, and
the tax is apportioned accordingly.
Real estate liable to taxation and which has been
omitted from assessment or erroneously or illegally
assessed in any year may be reassessed during any
of the following six years to the person or persons
who were the owner or owners or trustee or trustees
at the time of such omission or erroneous or illegal
assessment.
The shares of all state banks or trust companies,
other than savings banks and of national banks, are
assessed to the owners by the board of tax commis
sioners, but the tax thereon is paid by the bank as
agent of the shareholders. The bank thereupon has
a lien on the shares. The statutes provide that the
assessment of the bank and trust company shares is
to be made by April 1 of each year.
Oysters in beds leased from the state are declared
by statute to be the personal property of the lessee
and are assessed by the state board of commissioners
at the rental value.
c. Equalization.—There is no provision for equali
zation, strictly so called, but any person aggrieved by
assessment may petition the supreme court for relief.
This petition, however, does not stay proceedings for
collecting the taxes.
2. Rate—
There is a fixed rate of 9 cents on each $100 of the
ratable property of the several towns and cities, which
is to be assessed annually, collected, and paid by them
to the state treasurer.
Money on liand, money at interest or on deposit, other than
that which is taxable to a bank, savings bank, or trust com
pany, and the fair cash value of debts, whether or not secured
by mortgage or pledge, due to the person, copartnership, or
corporation to be taxed (all of the foregoing are included to
such an amount as the value of such money and such debts
shall exceed the amount such persou, copartnership, or corpo
ration is indebted to others, including in such indebtedness to
others any debts secured by a mortgage or pledge given by