ProJo: Angry East Siders confront Providence City Councilors over homestead exemption
PROVIDENCE — About 120 East Side residents crowded into the Central Congregational Church on Monday night to express their frustration over a City Council proposal to implement a graduated homestead exemption tax structure in Providence.
During a meeting punctuated by shouts and interruptions, residents voiced their concern to City Council members in attendance about a proposal they say would raise their tax bills.
“It hurts downtown, it hurts Fox Point, it hurts all of the East Side,” said Sharon Steele, acting president of the Jewelry District Association. “This whole idea of pitting one neighborhood against another neighborhood is a very bad idea.”
The proposal, brought forward by Finance Committee Chairman John Igliozzi, is to create a tax rate of $24.56 per $1,000 of value and give homeowners who live in their homes a 40% exemption on the first $350,000 of a home's value, and a 28% exemption on assessed value above $350,000. This would replace the flat tax rates proposed by the mayor of $15.35 per $1,000 of valuation for owner-occupied homes and $24.56 per $1,000 for non-owner-occupied homes.
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Courtesy of Providence Journal
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