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29 Comments on "Example of a real city budget"

strand tramp
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strand tramp

according to the last census median income per household was $40k…that info is 8yrs old so it’s probably higher now. 14.4% of the population were below the poverty line. certainly many people of means vacation there and while they may own property there they might not show up as residents reporting income for that census report, and wouldn’t be voters. the residents are the ones who enjoy a well presented budget produced by their city hall. the residents of hoboken do not.

thebinatwork2
Member

Of course if your definition of “big estates” is 50 rooms plus, then maybe its a majority. But there are hundreds of homes in private hands in Newport that are worth between $5MM-$20MM.

thebinatwork2
Member

The vast majority? You are talking only about a very tiny handful of estates on Cliff Walk- a couple of dozen maybe. Newport remains a city of hundreds of multi-million dollar homes. You might not find to many Venderbilts up there anymore, but the Newport beach clubs are still packed with blue money from Memorial Day to Labor Day.

strand tramp
Member
strand tramp

actually the vast majority of the big estates have been donated to the historical society because to the taxes which you mentioned. they are now museums which generate revenue for the city.

thebinatwork2
Member

In case some of you don’t know, Newport is LOADED with old money. So a per capita comparison doesn’t make a lot of sense to me. Its literally one of the richest cities in the world its size. Its also in hard left wing RI and the taxes are throught the roof FYI.

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