Sen. Raptakis proposal prohibits property tax increases if rent control is adopted

STATE HOUSE – Sen. Leonidas P. Raptakis has introduced legislation that would prohibit municipalities from increasing property taxes on any affected properties if a rent control ordinance is established.
           
“Rent control as a government policy has been proven time and time again to be a failure.  We should learn from history because it was a disaster in the 1970’s when President Nixon attempted it and the same result is currently happening across the country in cities that were foolish enough to institute it,” said Senator Raptakis (D-Dist. 33, Coventry, West Greenwich).  “With the Providence City Council on the verge of making the same costly mistake, this bill is necessary to protect the rights of property owners, as well as the fragile housing market, that will be negatively affected by this foolhardy proposal." Read the full article - click/tap here.