Finance Committee approves Providence’s $583M budget for 2024

PROVIDENCE, R.I. (WLNE) — The Providence City Council Finance Committee approved the city’s proposed $583 million budget proposal for the 2024 fiscal year.

Councilors voted unanimously to approve the budget.

Officials said the proposal modifies residential and commercial property tax rates, helps owner-occupied residents, and asks Mayor Brett Smiley to negotiate strong PILOT agreements focused on improving quality of life for city residents.

“This budget balances Providence’s financial challenges with residents’ financial and quality of life concerns,” said Council President Rachel Miller.

“Councilors listened to their constituents, many of whom were hit with increased tax bills from last year’s property re-evaluations. This budget eases the proposed tax increase and realizes $4.1M in savings for residents,” Miller continued.

Miller continued by thanking her fellow Councilor Helen Anthony, who was hit by a van in California, for her unwavering attention in the budget process.

The finance committee and other members of the City Council have been reviewing proposed budgets for over 11 meetings, totaling more than 20 hours.