3 Providence Mayoral Candidates Favor Taxing Brown and Other Colleges — One Doesn’t
Saturday, April 09, 2022
Three of the four candidates running for mayor of Providence support the two Rhode Island General Assembly bills that would place taxes on private colleges' properties and universities' endowments and require them to pay property taxes.
The two bills are being sponsored by State Representative David Morales and State Senator Tiara Mack. READ MORE HERE
For institutions like Brown University, the passage of the two bills would force them to pay tens of millions to their host community — the City of Providence.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTBrown, who reports an endowment of $6.9 billion strongly opposes the two pieces of legislation.
Michael Solomon
Providence mayor candidate Michael Solomon said, “Yes, I would be in favor of both pieces of legislation and have a history of fighting for this issue alongside members of the General Assembly for our community. We need a more reciprocal relationship with the colleges and universities in Providence and it will be a priority of mine to work together alongside their leaders, city government and community stakeholders to make sure that happens if I am elected.”
Solomon, who served as the President of the City Council adds, “This issue is multi-faceted and directly impacts the quality of life of our residents and the ability of our City to remain financially strong for years to come. Providence is a world-class destination for students to learn and enrich their lives, but there is also a larger community to advocate for and make sure they thrive as well.
Nirva LaFortune
Councilor Nirva LaFortune, who represents the third ward in Providence and works for Brown, said in a statement she had introduced similar legislation at the city level. "I cosponsored two resolutions at the City Council to encourage the passage of [the property tax and endowment tax legislation] H-7813 and H-7956," she said.
“This is a complex issue. It requires a review of our state property levy tax cap, clear guidelines around the taxation of profit-making versus mission-driven properties, like classrooms or research centers, and for H-7813 the impact of the 2% tax on the endowment of private institutions on students who rely on aid provided, supplemented by those funds, to attend college,” added LaFortune.
Gonzalo Cuervo
Similarly, mayor candidate Gonzalo Cuervo, who previously served as top staffer to Providence Mayor Angel Taveras and Secretary of State Nellie Gorbea said, "Providence's families and taxpayers continue to be disproportionately burdened by an unsustainable amount of tax-exempt property in the city. Our private colleges and universities play an important role in making Providence a great city and they need to be partners in its long-term success. Yale University and the City of New Haven have demonstrated that an equitable partnership is, in fact, possible. I'm proud to support the proposed legislation by Representative Morales and Senator Mack ensuring that our private colleges and universities are paying their fair share."
Smiley Says Not Now
In contrast, Brett Smiley says he doesn't support the legislation now. He believes that the city and the colleges should negotiate agreements.
Smiley said, "The colleges, universities and hospitals absolutely need to contribute more to the City of Providence. They utilize city services and their growth continues to shift the tax burden onto the residents of Providence."
"I think the most productive path to increased contributions is at the negotiation table. I look forward to negotiating fair agreements that realize those increases as mayor," he added.
"If negotiations don't result in a substantial increase, legislation like this becomes even more critical," he added.
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