(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 testII
Subscriber connection and distributionII
Canneries and frozen food productionII
Cement processingIII
Chemical and allied productionII
Clay products processingIII
Cold storage and ice-making equipmentIII
Cold storage warehouse equipmentII
Computers, personal computers (PC), laptops, tablets, cellphones,
mainframe/servers, peripherals, keyboard, mouseI
Condiments, processingII
Construction equipment, general construction, backhoes,
forklifts, loaders, cranes, unregistered vehiclesII
Dairy products processingII
Data handling equipment, except computersII
printers, copiers, bridges, routers and gatewaysII
DistillingII
Electrical equipment not used in manufacturingII
Electronic equipmentII
Fabricated metal products/special toolsII
Fishing equipment, excluding boats and barges, lines, netsI
Food and beverage productionII
Fur processingII
Gas distribution, total distribution equipmentIII
Glass and glass products/special toolsII
Grain and grain mill products processingIII
Gypsum productsIII
Hand toolsII
Hospital furnishings and equipment II
Hotel and motel furnishings and equipmentII
Jewelry products and pensII
Knitwear and knit products, ex, work uniformsI
Laundry equipmentII
Leather and leather productsII
Logging, timber cuttingII
Marine constructionII
MeatpackingII
Medical and dental supply productionII
Metalworking machinery processingII
Mining and quarryingII
Motion picture and television production II
Motor vehicle and parts/special toolsII
Office furniture and equipment II
Optical lenses and instrument processingII
Paints and varnishesI
Petroleum refiningIII
pipeline transportationIII
Plastics manufacturingI/II
Plastic products processing/special toolsII
Primary metals production, nonferrous and foundry productsIII
special toolsIII
Primary steel mill products III
Printing and publishingII
Professional and scientific instrumentsII
Radio and television, broadcastingII
Railroad transportation equipment II
locomotiveII
Recreation and amusementII
Retail trades, fixtures and equipmentII
Residential furnitureII
Restaurant and bar equipmentII
Restaurant equipment, fast foodsII
Rubber products processing/special toolsII
Sawmills, permanent/portableII
Service establishmentsII
Ship and boat building equipment/special toolsII
Soft drink processing and bottlingII
Stone products processingIII
Telecommunications, local and interstateII
analog switchingII
circuit, digital, analog, opticII
information/origination equipmentI/II
smart phonesI
metallic cableIII
fiber cable, poles, conduitIII
all other equipmentII
Telecommunications, cellular
analog/digital switchingII
radio frequency channel and controlII
power equipmentII
antennaeII
towersIII
transmission equipmentII
cellular phonesI
Textile products, including finishing and dyeingII
yarn, thread and woven fabricsII
Theater equipmentII
Utilities/power productionIII
generation, transmission, or distribution equipmentIII
Waste reduction and resource recoveryII
Water transportationIII
vessels, barges and tugsIII
Water utilitiesIII
Wharves, docks and piersIII
Wholesale trade fixtures and equipmentII
Wood products and furniture manufacturingII
(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.