RIPEC: R.I. tax burden in 2011 remained among nation’s highest
RHODE ISLAND'S property taxes -- the fourth highest in the country as a share of personal income -- accounted for 44.7 percent of all tax collection in 2011. Nationally, property taxes accounted for 33.1 percent of tax collections.
PROVIDENCE – Rhode Island’s fiscal year 2011 tax burden remained among the highest in the country, according to the Rhode Island Public Expenditure Council’s annual report: “How Rhode Island Revenues Compare.”
RIPEC’s report, released Wednesday, provides details on state and local government revenue sources from fiscal 2011 using the most recent data made available by the U.S. Census Bureau.
According to RIPEC, the Ocean State ranked 14th highest in the nation for tax burden as a share of personal income and 13th highest on a per capita basis. In fiscal 2010, the state’s tax burden was 13th highest per $1,000 of personal income and per capita.
The state’s 2011 property tax collections of $52.61 per $1,000 of personal income ranked fourth highest in the country, and per capita collections ranked seventh highest. Property taxes accounted for 44.7 percent of all tax collection in Rhode Island, while general sales taxes made the smallest contribution to the state’s tax collection at 16.2 percent.
Between fiscal year 2000 and fiscal year 2011, per capita property tax collections in Rhode Island increased by 57.3 percent, the third highest growth rate in New England.
All New England states, with the exception of Massachusetts, ranked in the top 10 for property tax collections in 2011. Nationally, property taxes averaged $36.96 per $1,000 of personal income, accounting for 33.1 percent of tax collections, while general sales taxes accounted for 22.5 percent.
Rhode Island’s individual income tax collections of $23.52 per $1,000 of personal income were on par with national collections of $23.76 and ranked 26th as a share of personal income and 19th on a per capita basis.
Between fiscal 2000 and fiscal 2011, total individual income tax collections in Rhode Island decreased 15.1 percent compared with a 7.6 percent decline nationally.
Total state and local revenue in 2011 – including taxes, charges and miscellaneous revenue, intergovernmental revenue, and insurance trust, utility and liquor store revenue – totaled $12.7 billion, approximately $700 million or 1 percent higher than fiscal year 2010 collections.
Nationally, state and local fiscal year 2011 collections of $3.4 trillion were $2 billion, or 6.2 percent, higher than 2010 collections.