So you may have heard that Central Falls is planning to ask the General Assembly to give Rhode Island cities and towns the option of filing for bankruptcy. As one might expect, a town so deep in the red as to ask for such a thing is considering concessions from labor and, of course, tax increases. It’s the tax increase on the table that is really astonishing:
Mazagonwalla said employees wouldn’t be the only ones affected. Taxpayers, too, he said will be asked to share the burden with a possible tax increase of 2.25 percent.
Yup. Here in Tiverton, citizens are having to fight to keep taxes below the 4.5% cap as elected bodies pursue 9% and seek to grease the skids for increases up to 15% and beyond at the financial town meeting. In Central Falls, they’re talking bankruptcy and threatening a 2.25% tax increase.
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