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Rhode Island General Laws are clear as to the basis of property tax. The section is clear. § 44-5-12. Assessment at full and fair cash value. Not some arbitrary figure calculated at the whim of the assessor. Cities and town's don't assess higher in one community or lower in another to raise money. It doesn't work that way. Billing is simple. Total valuation by total budget equals rate. Rate times individual value equals individual bill.
If the municipality decides to tax at 80% of value... every taxpayers bill is higher than it would be at 100% of value. Just simple math.
That does not say the municipalities have a say on which group of people pays more or less - it is based on the exemptions allowed to certain groups of people (like Providence homestead) or how they decide to apply the tax based on the class proportion to the whole (again Providence and Warwick
Having no tax increase for several years may not be in the best interest of the taxpayers when the city has such high unfunded liabilities. Next year will start off as a financial challenge since this year's budget includes proceed from the sale of public property as well as COVID funds that will not be available next year with wide-spread talk of Recession that will have a negative effect on property values/burden.
Our city faces immense financial obligations. If only the City could win a billion dollar lottery
(a) All real property subject to taxation shall be assessed at its full and fair cash value, as of December 31 in the year of the last update or revaluation, or at a uniform percentage thereof, not to exceed one hundred percent (100%), to be determined by the assessors in each town or city;
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