Fleet Credit Corporation v. Frazier

OPINION

This appeal questions whether the property tax exemption under G.L.1956 § 44-3-3(8) for personal property “owned by any corporation used for a school, academy, or seminary of learning” includes leased computer equipment that a nonprofit taxpayer has used exclusively for educational purposes. For the reasons set forth below, we hold that the tax exemption does not extend to such property, and thereby deny and dismiss the taxpayer’s appeal and affirm the Superior Court judgment in favor of the tax assessor.

The plaintiffs, Fleet Credit Corporation (Fleet) and New England Institute of…