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Message: From GoLocalProv by Stephen Beale, GoLocalProv News Editor: Just over half of all taxes collected in Providence in 2010 were owed to pensions and benefits for all city retirees—sucking money away from basic services and adding to the property tax burden. “It’s an extremely serious problem and it’s really the worst of both worlds,” said Gary Sasse. “Because the unfunded liability exists, it threatens the credit worthiness of the city and if the city moves to address it, it’s putting an additional property tax burden on the taxpayers.” http://www.golocalprov.comhttp://beta.golocalprov.com/providence-half-of-taxes-go-to-pensions