Will the Town have any trouble collecting the taxes from CRE?

No.  Under RI tax law, the Town’s tax lien is automatically superior to any other lien, mortgage, or attachment.  If the taxes are unpaid, CRE’s lenders will step in and pay the taxes.  In the unlikely event that they fail to do so, the Town can sell the property at a tax sale.  The value of the property will be hundreds of millions of dollars and will more than cover the tax payments.