Business Costs

Local Taxes

  • Commercial Property Tax Rate: $14.38 per thousand of the assessed property value.
  • Tangible Property Tax Rate: $14.38 per thousand of the assessed tangible property value.*

    *Businesses with $10,000 or less of tangible assets are exempt from paying tangible taxes. For more information, please visit the Tangible Tax information page here.
  • Motor Vehicle Tax Rate: $17.35 per thousand of the assessed value*. 
    *$5,000.00 exemption, assessed at 75% of NADA value.

Local Fees

  • Sewer Use Fee: $571.00 per unit, per year.
6th

Lowest Commercial Property Tax Rate

In Rhode Island for FY21

$10k

Tangible Asset Minimum Reporting Threshold

In Rhode Island for FY22

State Taxes

  • Rhode Island Corporate Tax Rate: 7.00%* (Statewide)

    *An annual minimum corporate tax of $450 applies to all business entities required to register to do business in Rhode Island, including single member limited liability companies.
  • Rhode Island Sales Tax: 7.00% (Statewide)
  • Rhode Island Hotel Tax: 6.00% (Statewide)

Property Insurance (Flood)

The Town of Bristol participates in the Community Rating System of the Federal Emergency Management Agency (FEMA) and has been elevated to a Class 7 under this program. Participation in this program rewards the Town for good flood plain management and results in reduced flood insurance premiums for Bristol property owners who are policy holders.

Water

The Bristol County Water Authority (BCWA) is the default water supplier for Bristol County, Rhode Island. Current rates are available on the BCWA website at: https://bcwari.com/currentwaterrates-2/.

Electricity & Gas

National Grid is Rhode Island’s default energy service provider.

Current Electricity Rates:

http://www.ripuc.ri.gov/utilityinfo/electric/narrelecschedule3a.html

Current Gas Rates:

https://www.nationalgridus.com/media/pdfs/billing-payments/rigas_firm_rates.pdf

The Rhode Island Public Utilities Commission is responsible for reviewing and approving rates.

Business can opt to contract with a third-party energy supplier. Customers can compare energy supplier rates by visiting: https://www.ri.gov/app/dpuc/empowerri/rate_card. Supplier rates offered over set contract terms.