Before any changes to the state’s tax policy are made, the impact must be carefully considered, using the most recent data available, to ensure that the resulting state-local tax structure is equitable, fair, balanced and serves to strengthen the state’s economy – in both the short term as well as the long term. Even in …
Today, RIPEC released the results of a six-month study commissioned to forecast revenue and expenditures for Aquidneck Island over the next six years. RIPEC was asked to prepare a revenue and expenditure forecast of school and municipal expenditures and revenues for Middletown, Newport and Portsmouth in partnership with the AI Advisory Group and Ninigret Partners. …
Today, RIPEC released a study on revaluation of property in the Ocean State. Periodic revaluation of property is an effort to provide fairness in the process by changing assessments to reflect current values. Revaluations are a necessary process to address the reality that properties appreciate and depreciate at different rates. During the recent period of …
With voters being asked to consider six bond questions that would authorize $229.3 million in new general obligation debt, this issue of RIPEC Comments summarizes the proposed referenda and key facts concerning public debt in the Ocean State. The following report reviews general obligation bonds, Rhode Island’s debt levels, debt service and general revenue, debt …
RIPEC commends the General Assembly for proposing a Constitutional Amendment to further limit State spending and to enhance the State’s Budget Reserve Fund. The proposal would limit State spending to 97% of the estimated revenues from all sources, with the balance to be deposited into a budget reserve account that can total no more than …
Property taxes are creating financial hardships for many Rhode Island families – especially those on fixed incomes and those trying to purchase their first home. A recent poll commissioned by RIPEC asked “which tax (property, income or sales) would you want to see permanently reduced?” Nearly 58.0 percent of respondents said the property tax. The …
This RIPEC Comments analyzes the taxes Ocean State residents send to Washington and the amount of Federal dollars the State receives.
