Fri September 6, 2013
No Easy Answers To Providence's High Tax Rate
The head of the Providence City Council says there aren’t any easy answers for cutting high commercial taxes in the capital city. Providence has among the highest commercial tax rates in the country.
Providence Mayor Angel Taveras has frozen the commercial tax rate in Rhode Island’s largest city. But the cost of the tax is still seen as an obstacle to new development.
City Council President Michael Solomon says city officials are limited in their ability to improve the situation beyond trying to encourage a broader tax base.
"We need to grow our base. What we need is more people paying taxes, not less people paying more taxes. And if we can grow that base, I think we can reduce the commercial tax rate," said Solomon.
Solomon is among the Democrats preparing to run for mayor next year if Taveras, as expected, targets the governor’s office. The other Democrats include educator Victor Capellan, law school professor Jorge Elorza, and consultant Brett Smiley.
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