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Friday, February 21, 2025

Property tax revenue down 66.7% from previous quarter in Rhode Island

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Rhode Island Division of Taxation - Thomas Verdi Director of Department of Revenue | Rhode Island Division of Taxation

Rhode Island Division of Taxation - Thomas Verdi Director of Department of Revenue | Rhode Island Division of Taxation

Rhode Island collected $1 million in property taxes during the third quarter of 2024, a 66.7% decrease from the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the second quarter of 2024 was $3 million.

Overall, Rhode Island collected $1.4 billion in combined tax revenues in the third quarter of 2024, a decrease from the $1.7 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2024 Rhode Island Tax Collections
Type of TaxAmount (millions)
Property Taxes$1
Sales and Gross Receipts Taxes$696
Income Taxes$602
License Taxes$24
Other Taxes$22
Source: U.S. Census Bureau

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