government

Central Falls receiver proposes tax incentives

COURTESY WIKIMEDIA / MARC BELA
STATE-appointed Receiver Robert G. Flanders Jr. is proposing a series of tax incentives for businesses that hire or make capital investments in the bankrupt city as well as breaks for homeowners, veterans and senior citizens, Gov. Lincoln D. Chafee announced Wednesday.
Posted 1/12/12

CENTRAL FALLS – State-appointed Receiver Robert G. Flanders Jr. is proposing a series of tax incentives for businesses that hire or make capital investments in the bankrupt city as well as breaks for homeowners, veterans and senior citizens, Gov. Lincoln D. Chafee announced Wednesday.

The Jobs Creation Incentive Plan would provide a 5-year personal property tax reduction for employers who hire within the city, plus additional tax incentives for providing group health insurance and making 20 percent of those new hires Central Falls residents.

The Real Property Improvement Incentive Plan would offer phased-in five-year tax exemptions to property owners based on the increased assessed value attributable to their investments in new construction, renovation or reoccupation of vacant or abandoned facilities.

To provide relief to struggling city homeowners, Flanders proposes 25 percent increases in the Homestead exemption and exemptions for senior citizens, veterans, widows of veterans and gold star citizens effective on 2012 property tax bills. He also proposed a 25 percent increase in the threshold for reassessing residential improvements.

“Now that the fiscal hemorrhaging has stopped, it's time to let businesses know that we're serious about helping them grow,” Flanders said in a statement announcing the proposal. “Central Falls has become nimble, innovative, and here to create jobs.”

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • 40 Under Forty
    We're almost sold out. The 10th Anniversary of 40 Under Forty, and PBN is planni ...
  • Healthiest Employers
    See who the Healthiest Employers in RI are! And save the date - August 14th - at ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement