For Business Owners

Key to the success of any business is an ability to control costs.  A business can more easily do so by being able to predict and respond to costs such as property tax bills.

The R.I.G.H.T. plan insures that no business shall face property tax increases greater than the limits codified in law, soon to be 4% annual increases.  Such Stabilization of Taxes will go far to improve the business climate in our state.

After the revaluation in 2003 the ratio of tax increases to decreases for commercial property was 45% up and 55% down respectively with an average increase of 18%. After the 2006 revaluation the ratio was far worse for commercial property - 75% of business owners received increases averaging 27% with just a 5.2% levy increase.

Under the R.I.G.H.T. plan all property owners, business and home owner alike, would have received a 5% increase in 2007. We believe that Stabilization of Taxes is very desirable for all businesses. Tax breaks or 'incentives' for some businesses always come at the expense of others. It would be far better to attract business to Rhode Island by guaranteeing that annual property tax increases shall be limited to less than 4%.

The R.I.G.H.T. plan is good for business and good for all Rhode Island.