$568 Million Budget Approved by City Council, Finance Committee Lowers Tax Rate
Monies Allocated to Reduce Residential Taxes, Redevelopment of Superman Building, Plus Aid for Seniors
June 07 ,2023 - Last night, the Providence City Council Finance Committee voted to approve a $568 million FY 2023 city budget that lowers the residential property tax rate to help balance rising home values and the need to fund critical city services. The budget includes:
Public safety funding for a new police academy
Adding 50 trained officers to the Providence Police Department.
An increase to the elderly exemption
Giving senior citizens a break on their property taxes while other costs of living are dramatically rising.
The finance committee also calls for hiring a full-time qualified fire chief.
“Our families are faced with rising inflation costs, from groceries to gas. And while we all appreciate increased home values, it was important for the Council to crunch the numbers and lessen the tax burden on our single-family, multi-family, and elderly homeowners without sacrificing city services,” said Councilwoman and Finance Chair Jo-Ann Ryan. “This collaborative budget puts more police in our neighborhoods and funds diversion programs and social service agencies to help with mental and substance abuses. There is a need for a fire chief in a city the size of Providence. Rank and file firefighters who have not had a chief in 7 years deserve one, and so do our residents,” added Ryan.