Forest Incentive Programs - Property Taxes for Rhode Island

Type of Tax

Reduction in Fair Market Value, percent reduction is established by municipality

Law

Farm, Forest, and Open Space Act, modified Assessment Law, Gen. Laws Title 44 Sec. 5-12, 5-39 to 5-41, 27-1 to 27-6

Objective

To encourage the preservation of farm, forest, and open space land in order to maintain readily available source of food and farm products close to the metropolitan areas of the state, to conserve the state's natural resources, and to provide for the welfare and happiness of the inhabitants of the state.

Requirements

Minimum of 10 acres

Must have a densely stocked growth of trees

Management plan approved by the Director of Environmental Management

Must submit an annual confirmation to assessor that land is still in forest use

Director of Environmental Management certifies forest land use and assessor requests periodic checks

Change in land use results in tax of 10% of FMV in first 6 years of classification, and decreases 1% per additional year

Program Administration

Private forestry consultant creates a management plan. Landowner submits application to Director of Environmental Management for approval. Approved plans are forwarded to municipal district. County tax assessor receives landowners annual use verification and can request a use check. Department of Administration compiles land values for forest.