CVS is headquartered in Woonsocket, but is it the city's biggest taxpayer? Here's what we found.

WOONSOCKET — The city's biggest real estate taxpayer has a tax bill that's higher than the combined total of the next six largest taxpayers, according to figures provided by the city tax assessor.

It will come as little surprise that CVS, the giant corporate drugstore and health-company chain headquartered there, tops the list of taxpayers. And the company's dominance as a taxpayer doesn't even include its two retail outlets in the city, one of which, on its own, ranks as the city's 23rd biggest real estate taxpayer.

CVS's tax relationship with the city is complicated. Most of its facilities — or at least the land on which they stand — are owned by the Rhode Island Economic Development Corporation, forerunner of the state Commerce Corporation, the state agency that oversees economic development.

Technically, the EDC would be the taxpayer, except that the corporation and CVS signed a development agreement and ground lease in 1998 that obligates CVS to reach an agreement with the city to cover the payment of taxes. The development agreement excuses CVS from paying sales tax for items bought for its corporate facilities in exchange for job guarantees and keeping its headquarters in Woonsocket for the term of the agreement, which expires in 2028.

The development agreement covers more than a dozen parcels in several communities, including Woonsocket, as well as Cumberland, Lincoln, Smithfield and North Smithfield.

Who are the biggest taxpayers in Woonsocket?

1. CVS corporate facilities, 13 parcels — $2,330,009

The drugstore chain's corporate holdings include several office buildings in the Highland Corporate Park and a sprawling distribution warehouse between Cumberland Hill Road and the Blackstone River. The corporate park and distribution facility are near where Mendon Road crosses the Cumberland line.

The corporate real estate tax total does not include a retail store that, by itself, falls at No. 23 on the list.

CVS's corporate facilities were assessed at $89,823,000.

2. Woonsocket Mall, 2000 Diamond Hill Rd. — $433,175

Diminutive by comparison to CVS, the Woonsocket Mall, home to Price Rite Marketplace, Dollar Tree and the Woonsocket branch office of the state Division of Motor Vehicles, lies along a retail stretch of Diamond Hill Road.

It was assessed at $16,699,100.

3. Plaza Village, 41 Village Rd. — $379,585

This apartment complex was assessed at $14,633,200.

4. Former city middle school, 357 Park Place — $362,208

The former school property was touted late last year by Boston-based developer The Goldman Group as site for a future 137-unit apartment complex with a community recreational facility.

It was assessed at $13,963,300.

5. Rockridge Homes Apartments, 181 Rockridge Drive — $347,352

This apartment complex was assessed at $13,390,600.

The rest of the list

6. Walnut Hill Plaza, 1500 Diamond Hill Rd. — $344,3357. Four Seasons North Apartments, 2491 Diamond Hill Rd. — $291,4648. Fairmont Heights Apartments, 520-533 Second Ave. — $232,0519. Hanora Lippitt Manor, 1 Main St. — $194,56810. Thundermist Health Center, 450 Clinton St. & 25 John Cummings Way — $185,16511. CubeSmart, 1700 Diamond Hill Rd. — $172,65712. Woonsocket Health & Rehabilitation Centre, 262 Poplar St. — $163,48413. Blackstone Terrace apartments, 182 Cumberland St. — $161,76714. Chateau Clare, 16 Greene St. — $160,21815. Trinity Health & Rehabilitation, 4 St. Joseph St. — $149,81916. Oakland Grove Health Care Center, 560 Cumberland Hill Rd. — $139,18617. Mt. Vernon Apartments, 939 Bernon St. — $134,95318. Parkinson Technologies, 100 Goldstein Drive — $114,47119. GenesisCare, 115 Cass Ave. — $107,76520. Supply Solutions (former Lowes location), 2010 Diamond Hill Rd. — $102,68921. Tractor Supply Co., 1919 Diamond Hill Rd. — $100,89122. Heritage Place, 719 Front St. — $97,95723. CVS store, 1054 Cass Ave. — $88,67824. Holiday Inn Express & Suites, 194 Fortin Drive — $85,51425. Friendly Home, 303 Rhodes Ave. — $85,31426. Shopping plaza, 1400 Park Ave. — $85,18727. Flock Tex, 200 Founders Drive — $84,46828. Technic Engineered Powders, 300 Park East Drive — $84,430

Where did CVS start?

The first Consumer Value Store — that's where the acronym came from — opened in Lowell, Massachusetts, in 1963.

Where were the first CVS pharmacy stores?

The first CVS stores with pharmacies opened in 1967 in two Rhode Island communities. Can you guess which?

Here's a hint: one of them begins with "W."

But it's not Woonsocket.

The first CVS stores with pharmacies were in Cumberland and Warwick.

This article originally appeared on The Providence Journal: CVS headquarters in Woonsocket is the city's top taxpayer. Here are 29 others.