Andrew Stewart: The Dubious Nature of the Providence Financial Analysis | | Rhode Island Media Cooperative
City of Providence Ten Year Plan: Summary of Key Benchmarking Findings Check out my interview with Ray Rickman on this topic! Providence has been in serious financial straits for several years. This recent report from the National Resource Network includes the following quotes: The four major entities making PILOT payments in FY2016 owned 264 tax-exempt parcels with a combined assessed value of $1.9 billion [These payees are Brown University, Johnson and Wales University, Providence College, Rhode Island School of Design, Care New England, and Lifespan] If the parcels were taxable, City revenues would be higher by up to $69 million When compared to other New England cities, Providence's tangible and motor vehicle tax rates are among the highest and the residential owner occupied rate is among the lowest Providence's commercial and tangible tax rates are often cited as barriers to the City's economic competitiveness, while creating a challenging issue with tax stabilization