Notwithstanding any other provisions of this chapter, the owner of any building or dwelling in the city of Warwick consisting of one to three (3) family units, the building also being the owner's principal place of residence, who makes any improvements or additions to the building in an amount not exceeding fifteen thousand dollars ($15,000), as may be determined by the tax assessor of the city of Warwick, is exempt from the assessment of property taxes on those improvements or additions until the next general municipal revaluation of property values in 1997. As used in this section, "residence" means a voting address. The property owner shall supply all necessary plans to the building official of the city of Warwick for the improvements or addition and shall pay all requisite building and other permit fees as are then required by law. The provisions of this section do not apply to any commercial building or structure.
R.I. Gen. Laws § 44-5-13.2.3