Providence is the capital and most populous city of the U.S. state of Rhode Island and is one of the oldest cities in the United States. It was founded in 1636 by Roger Williams, a religious exile from the Massachusetts Bay Colony. He named the area in honor of "God's merciful Providence" which he believed was responsible for revealing such a haven for him and his followers to settle. The city is situated at the mouth of the Providence River at the head of Narragansett Bay. Providence was one of the first cities in the country to industrialize and became noted for its textile manufacturing and subsequent machine tool, jewelry, and silverware industries. Today, the city of Providence is home to eight hospitals and seven institutions of higher learning which have shifted the city's economy into service industries, though it still retains some manufacturing activity. The city was once nicknamed the "Beehive of Industry"; it began rebranding itself as the "Creative Capital" in 2009 to emphasize its educational resources and arts community. The city is the third most populous city in New England after Boston and Worcester, Massachusetts.
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How did Rhode Island earn the grade of D? We examined the state taxes based on how age friendly they are. Rhode Island has a state sales tax of 7.00%. Of particular interest is that Rhode Island does have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. Rhode Island has an effective property tax rate of 1.65%. Weighing these taxes and other taxes most likely to impact the aging population is how Rhode Island earned its state tax grade of D.
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