Two notes:

1. Apparently, I was incorrect about town councils’ having the authority to reduce tangible propert taxes to 0%. According to John, in the comments, the town is limited in the degree to which it can make one class of tax higher (or lower) than another. (That does not disallow the 25-year exemption.) I should note, however, that, also in the comments, Representative John Loughlin has pledged to introduce legislation granting towns more control over such taxes.
2. I’ll be at the East Providence School Committee meeting this evening. If you’re near a computer after 7:30 p.m., check in from time to time. If you’re also at the event (and you can find me) say “hello.”