PROVIDENCE – Recently completed statistical revaluations show that property values are up across the city.
“The message to Providence property owners is this – your property is worth more. This revaluation confirms that Providence is an increasingly attractive place to live, work and own a business,” said Providence Mayor David Cicilline. “Particularly encouraging is the fact that homes are worth more across the city, not just in particular neighborhoods.”
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The revaluation was mandated by state law and conducted by Dayton, Ohio-based Cole Layer Trumble Co. The city’s revaluation was done at the same time as revaluations in other cities in Rhode Island, including West Warwick, Warwick and East Providence.
Cicilline introduced legislation to authorize the city to modify tax classifications and adjust existing exemptions; this was done in order to provide greater flexibility in responding to increased residential values.
Cicilline’s administration is studying a range of options to “protect residential taxpayers from the shifting of tax burden from commercial to residential properties,” a press release said.
Washington Trust reports dividend increase
WESTERLY – The board of directors of Washington Trust Bancorp Inc. announced a quarterly dividend of 17 cents per share for the quarter ending March 31. This rise represents an increase from the previous quarterly dividend of 16 cents per share.
“This dividend declaration represents our 12th consecutive year of dividend increases, and our third dividend increase since the beginning of 2003,” said John C. Warren, chairman and CEO of Washington Trust.
Washington Trust Bancorp Inc. is the parent company of The Washington Trust Co., a Rhode Island-chartered community bank founded in 1800.
