Newport officials are looking for volunteers to help the city explore new revenue streams to help balance the city’s budget needs with the rising costs of services.
The city said the new Ad-Hoc Revenue Review Committee will help the city reach its goal of finding new sources of revenue outside of local property taxes, which include harbor levies, parking revenue, and tourist and hospitality related fees.
“Boasting some of the highest property values in the state alongside one of the lowest tax rates of any of Rhode Island’s 39 Cities and Towns, Newport’s ability to balance the needs of its residents with the growing cost of services has relied in large part to the City’s ability to deploy creative and user-driven sources of revenue,” Newport officials wrote in a release.
The eight member committee, including five residents and three senior city staff members, will make recommendations that are expected to be presented to the City Council by next summer.
Anyone with experience in the areas of finance, accounting, insurance, or economics are encouraged to apply for a volunteer position on the city’s website.
Generative artificial intelligence (AI) assisted a What’sUpNewp journalist with the reporting included in this story.
