The high price of living in Rhode Island
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5/3/2008
Rhode Island is a very pretty state with lots of beautiful water ways. Coming from teh San Francisco Bay Area for work I was very excited by the less expensive housing prices. However Rhode Island has a very high tax rate! Property taxes and income taxes are very high. In 4 years our property taxes have gone up consistently and therefore increased our payment added into our mortage from $500 per month to presently $750 per month on a $375,000 house. Food is expensive whether it is in the grocery stores or at a restaurant. There are no $1.00 taco trucks here! It is great to be able to reach everything in the entire state in 45 minutes or less.
When using sperlings comparisons for other locations everything in RI comes up more expensive except housing for all of the locations I am considering which are warmer weather well known locations.
I've realized that all in all moving will be a flat change in overhead expense because what I would be saving in taxes and the daily expenses like food would enable me to own a more expensive house. Quite a surprise.
When I first came here people locally denied this and mention "taxachusettes" to prove their point. However in the last year I have heard many people talk about possibly moving over the state line into Massachusettes to save money. All of the high taxation makes a very big difference in the price of gas and larger purchases and many locals drive to Mass to spend their money.
Who knew the littlest state would prove to be the one with the highest tax rate.
Wendy | Providence, RI