The new 10-member body aims to develop guidelines to attract and retain residents year-round
In an effort to reduce the city’s cost of living, the City of Newport has begun recruiting candidates for a six-month ad hoc committee to examine tax policies that could help make Newport living more affordable for year-round residents do.
The new ad hoc tax relief committee, which will consist of five members of the public and an equal number of city officials, was created by a unanimous decision of the city council at its June 9th session.
The effort is a continuation of the exploration of various tax break strategies by the council over the past few years, which have included ideas such as introducing homestead exemptions for year-round residents and the ability to impose a land transfer tax on high quality real estate.
In addition to holding public meetings and conducting interviews, the committee is tasked with collecting data, reviewing regulations and plans of other communities and formulating a report with its findings and recommendations to the council within six months of its first meeting.
While Newport currently has one of the lowest residential tax rates in the state and the lowest among communities with K-12 school systems, the cost of living remains one of the toughest problems the council faces.
Anyone interested in serving on the new Ad Hoc Tax Relief Committee is encouraged to apply by downloading an application at www.CityofNewport.com/ApplyToServe. Applicants are asked to enclose a copy of their CV with financial experience, preference is given to those with knowledge of local taxation and real estate.
Applications can be submitted by July 1st at the latest.
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