R.I. Gen. Laws § 44-5-8 — Form of option for quarterly payment

(a) The option to allow payment of taxes in installments shall be expressed in substantially
the following form:
“The tax may be paid in ___________ installments, the first installment of ___________ percent on or before the ___________ day of _____________________ A.D. 20___________ : (proportions and dates to be specified.)”
“Each installment of taxes if paid on or before the last day of each installment period
successively and in order is free from any interest charge.”
“If the first installment or any succeeding installment of taxes is not paid by the
last date of the respective installment period or periods as they occur, then the
whole tax or remaining unpaid balance of the tax, as the case may be, immediately
becomes due and payable and carries until collected a penalty at the rate of ___________ percent (not less than six (6) nor more than eighteen (18) or, in the case of the
city of Cranston, not more than twelve (12) per annum).”
(b) Notwithstanding the provisions of subsection (a), each municipality shall have the
authority, in the case of failure of a taxpayer to pay the first installment or any
succeeding installment by the last date of the respective installment period, to require
immediate payment of only that late installment, and to impose an interest charge
only on that late installment.