WOONSOCKET — Town’s greatest actual property taxpayer has a tax invoice that is increased than the mixed whole of the subsequent six largest taxpayers, in response to figures offered by the town tax assessor.
It’ll come as little shock that CVS, the large company drugstore and health-company chain headquartered there, tops the record of taxpayers. And the corporate’s dominance as a taxpayer does not even embody its two stores within the metropolis, one in every of which, by itself, ranks as the town’s twenty third greatest actual property taxpayer.
CVS’s tax relationship with the town is sophisticated. Most of its services — or no less than the land on which they stand — are owned by the Rhode Island Financial Improvement Company, forerunner of the state Commerce Company, the state company that oversees financial growth.
Technically, the EDC could be the taxpayer, besides that the company and CVS signed a growth settlement and floor lease in 1998 that obligates CVS to succeed in an settlement with the town to cowl the fee of taxes. The event settlement excuses CVS from paying gross sales tax for objects purchased for its company services in alternate for job ensures and conserving its headquarters in Woonsocket for the time period of the settlement, which expires in 2028.
The event settlement covers greater than a dozen parcels in a number of communities, together with Woonsocket, in addition to Cumberland, Lincoln, Smithfield and North Smithfield.
Who’re the most important taxpayers in Woonsocket?
1. CVS company services, 13 parcels — $2,330,009
The pharmacy chain’s company holdings embody a number of workplace buildings within the Highland Company Park and a sprawling distribution warehouse between Cumberland Hill Street and the Blackstone River. The company park and distribution facility are close to the place Mendon Street crosses the Cumberland line.
The company actual property tax whole doesn’t embody a retail retailer that, by itself, falls at No. 23 on the record.
CVS’s company services have been assessed at $89,823,000.
2. Woonsocket Mall, 2000 Diamond Hill Rd. — $433,175
Diminutive by comparability to CVS, the Woonsocket Mall, house to Worth Ceremony Market, Greenback Tree and the Woonsocket department workplace of the state Division of Motor Autos, lies alongside a retail stretch of Diamond Hill Street.
It was assessed at $16,699,100.
3. Plaza Village, 41 Village Rd. — $379,585
This house complicated was assessed at $14,633,200.
4. Former metropolis center college, 357 Park Place — $362,208
The previous college property was touted late final 12 months by Boston-based developer The Goldman Group as website for a future 137-unit house complicated with a group leisure facility.
It was assessed at $13,963,300.
5. Rockridge Properties Flats, 181 Rockridge Drive — $347,352
This house complicated was assessed at $13,390,600.
The remainder of the record
6. Walnut Hill Plaza, 1500 Diamond Hill Rd. — $344,3357. 4 Seasons North Flats, 2491 Diamond Hill Rd. — $291,4648. Fairmont Heights Flats, 520-533 Second Ave. — $232,0519. Hanora Lippitt Manor, 1 Most important St. — $194,56810. Thundermist Well being Middle, 450 Clinton St. & 25 John Cummings Approach — $185,16511. CubeSmart, 1700 Diamond Hill Rd. — $172,65712. Woonsocket Well being & Rehabilitation Centre, 262 Poplar St. — $163,48413. Blackstone Terrace residences, 182 Cumberland St. — $161,76714. Chateau Clare, 16 Greene St. — $160,21815. Trinity Well being & Rehabilitation, 4 St. Joseph St. — $149,81916. Oakland Grove Well being Care Middle, 560 Cumberland Hill Rd. — $139,18617. Mt. Vernon Flats, 939 Bernon St. — $134,95318. Parkinson Applied sciences, 100 Goldstein Drive — $114,47119. GenesisCare, 115 Cass Ave. — $107,76520. Provide Options (former Lowes location), 2010 Diamond Hill Rd. — $102,68921. Tractor Provide Co., 1919 Diamond Hill Rd. — $100,89122. Heritage Place, 719 Entrance St. — $97,95723. CVS retailer, 1054 Cass Ave. — $88,67824. Vacation Inn Specific & Suites, 194 Fortin Drive — $85,51425. Pleasant Residence, 303 Rhodes Ave. — $85,31426. Procuring plaza, 1400 Park Ave. — $85,18727. Flock Tex, 200 Founders Drive — $84,46828. Technic Engineered Powders, 300 Park East Drive — $84,430
The place did CVS begin?
The primary Shopper Worth Retailer — that is the place the acronym got here from — opened in Lowell, Massachusetts, in 1963.
The place have been the primary CVS pharmacy shops?
The primary CVS shops with pharmacies opened in 1967 in two Rhode Island communities. Are you able to guess which?
Here is a touch: one in every of them begins with “W.”
However it’s not Woonsocket.
The primary CVS shops with pharmacies have been in Cumberland and Warwick.