(A) Consistent with R.I. Gen. Laws §§ 44-34-1 et seq., the town shall assess and levy on every vehicle and trailer registered under R.I. Gen. Laws §§ 31-3-1 et seq. for the privilege of the registration, an excise tax measured by its value as further set forth in R.I. Gen. Laws.
(B) For the fiscal year 2011 and thereafter, the town through its Tax Assessor shall exempt from taxation the first $3,000 of assessed value on any vehicle or trailer, reduced by the amount of any exemption provided by the State of Rhode Island, on a pro-rated basis as provided in R.I. Gen. Laws §§ 44-34.1 et seq. It being the intent hereof that the total exemption provided from the state to the town, or a combination thereof, not exceed $3,000.
(Ord. 2101-27, passed 10-4-2010)