The tangible property tax is a assessed by a city or town on all personal property owned and used in connection with a business. A tangible property tax may also be assessed on your mobile home or other unregistered vehicles. Tangible property taxes do not include real estate which is a separate tax. Tangible property taxes are assessed in accordance with Title 44 Chapter 5 of the Rhode Island General Laws and include the following:
Computers, Furniture, Fixtures, Equipment, Signs, Unregistered Vehicles, Leased Equipment, Leasehold Improvements etc.
Leasehold Improvements are Fixtures/Equipment, etc. owned by you and attached to or used in real estate owned by others and not reported elsewhere. Leasehold improvements include, but are not limited to wall paneling, carpeting, tile on the wall and floors, ceilings, electrical and plumbing fixtures, partitions, building additions and the like. For example, if you operate a business in the City of Woonsocket, but do not own the real estate, any improvements made to the space should be reported by you, the business owner.
Leased Equipment - if you are the owner of copier equipment and are located in New York but lease the copiers to a business in Woonsocket, you are subject to a tangible personal property tax as the copiers are physically located in Woonsocket.
Per RIGL § 44-4-10, tangible personal property belonging to any person, partnership, corporation, joint stock company, or association, shall be taxed to that person partnership, corporation, joint stock company, or association in the town or city where the property is situated.