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RI treasurer hopeful to repay a Florida tax break

September 7, 2010

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PROVIDENCE, R.I.—The Republican candidate for Rhode Island general treasurer says he plans to reimburse Florida for a property tax break that he says he improperly received since 2005.

The Providence Journal reports that the money is related to a home Kernan King bought in Sarasota County in 2004. He used the property to qualify for a tax break available only to permanent residents of Florida.

King moved to Rhode Island in 2005, but failed to notify Florida officials that he is no longer a resident.

King called that an oversight. He showed the Providence Journal state tax returns showing that he paid nearly $145,000 in Rhode Island income tax from 2005 to 2009.

Still, a Sarasota County official said last week that King told them six months ago that he was still a permanent Florida resident.

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