R.I. Gen. Laws § 44-3-13.4 — Low or moderate income housing — Exemption

The town or city councils of any municipality of the state may, by ordinance, exempt
from taxation, in whole or in part, the real property situated in that city or town
which is occupied by persons or families of low or moderate income. The amount of
the exemption and the rules and regulations regarding eligibility for the exemption
shall be provided for by ordinance, and the city or town council may, from time to
time, by amendment to the ordinance, make those changes in the amount of exemption
granted in the rules and regulations regarding eligibility for exemption, as it deems
necessary to promote the purposes of this section. The exemption may continue during
a term of any mortgage granted by the Rhode Island housing and mortgage finance corporation
on the real property, or until the time the real property is not occupied by persons
of low or moderate income as their primary residence.