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Rhode Island Gets Honorable Taxation
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• See
Our Petition Links • RI General Laws FreeWebSubmission.com |
Because Rhode Island has among the highest property taxes in the nation it is easy to assume that your tax bills are so high because of our high tax levies. You'd be somewhat right but mostly wrong. The most important reason the majority pay more than they should is because, in fact, thousands pay less than they should! The reason is revaluations based on market values. Revaluations are necessary to insure that a new owner who buys a $500,000 home pays fair taxes on a $500,000 home. Without revaluation she would pay on the prior owner's assessment which is unfair to the rest. But for existing owners those reassessments result in the two kinds of taxpayers mentioned above: those who pay too much and those who pay too little. For example, after N. Kingstown's last revaluation, 7 out of 10 property owners got an average 13% tax increase to pay for a 5.2% increase in the tax levy. Three out of ten saw their taxes FALL 7% - most pay too much, lots pay too little. The solution is to use "Taxable Values", the prior year's value changed by the same amount as the change in the tax levy. In the case of a new owner who has no 'prior value', the Taxable Value is the Market Value. In this way taxes are
That's reform! Our goal is to:
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We, the undersigned, respectfully request that the proposals offered by R.I.G.H.T. be used as a model to stimulate legislative discussion, debate and ultimately to restore fairness in property tax procedures. Kimberly
Aguiar INSANITY: using the same solutions to a problem and expecting different results. |
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