(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 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 test II Subscriber connection and distribution II Canneries and frozen food production II Cement processing III Chemical and allied production II Clay products processing III Cold storage and ice-making equipment III Cold storage warehouse equipment II Computers, personal computers (PC), laptops, tablets, cellphones, mainframe/servers, peripherals, keyboard, mouse I Condiments, processing II Construction equipment, general construction, backhoes, forklifts, loaders, cranes, unregistered vehicles II Dairy products processing II Data handling equipment, except computers II printers, copiers, bridges, routers and gateways II Distilling II Electrical equipment not used in manufacturing II Electronic equipment II Fabricated metal products/special tools II Fishing uters II printers, copiers, bridges, routers and gateways II Distilling II Electrical equipment not used in manufacturing II Electronic equipment II Fabricated metal products/special tools II Fishing equipment, excluding boats and barges, lines, nets I Food and beverage production II Fur processing II Gas distribution, total distribution equipment III Glass and glass products/special tools II Grain and grain mill products processing III Gypsum products III Hand tools II Hospital furnishings and equipment II Hotel and motel furnishings and equipment II Jewelry products and pens II Knitwear and knit products, ex, work uniforms I Laundry equipment II Leather and leather products II Logging, timber cutting II Marine construction II Meatpacking II Medical and dental supply production II Metalworking machinery processing II Mining and quarrying II Motion picture and television production II Motor vehicle and parts/special tools II Office furniture and equipment II Optical lenses and instrument processing II Paints and varnishes I Petroleum refining III pipeline transportation III Plastics manufacturing I/II Plastic products processing/special tools II Primary metals production, instrument processing II Paints and varnishes I Petroleum refining III pipeline transportation III Plastics manufacturing I/II Plastic products processing/special tools II Primary metals production, nonferrous and foundry products III special tools III Primary steel mill products III Printing and publishing II Professional and scientific instruments II Radio and television, broadcasting II Railroad transportation equipment II locomotive II Recreation and amusement II Retail trades, fixtures and equipment II Residential furniture II Restaurant and bar equipment II Restaurant equipment, fast foods II Rubber products processing/special tools II Sawmills, permanent/portable II Service establishments II Ship and boat building equipment/special tools II Soft drink processing and bottling II Stone products processing III Telecommunications, local and interstate II analog switching II circuit, digital, analog, optic II information/origination equipment I/II smart phones I metallic cable III fiber cable, poles, conduit III all other equipment II Telecommunications, cellular analog/digital switching II radio frequency channel and control II power equipment II antennae II towers III le III fiber cable, poles, conduit III all other equipment II Telecommunications, cellular analog/digital switching II radio frequency channel and control II power equipment II antennae II towers III transmission equipment II cellular phones I Textile products, including finishing and dyeing II yarn, thread and woven fabrics II Theater equipment II Utilities/power production III generation, transmission, or distribution equipment III Waste reduction and resource recovery II Water transportation III vessels, barges and tugs III Water utilities III Wharves, docks and piers III Wholesale trade fixtures and equipment II Wood products and furniture manufacturing II (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.
Rhode Island Legal Code