No property tax increase according to Cranston’s latest budget

April 1, 2016 10:11 pm

By Niza Viñas

Email: nvinas@abc6.com

Mayor of Cranston Allan Fung gave a final budget address for his current term Friday.

Mayor Fung said, “I am incredibly pleased to announce that for the fourth time in five years, we will have no property tax increase in Cranston.”

The city’s appropriation will aid all of the necessary educational programs and provide an additional $225,000 to help subsidize the cost of middle school sports and music.

Additionally, the city will continue to help with capital construction projects; over $1.6 million will be put into schools this upcoming year.

Fung explains that the city will also refinance over $9 million in past debt to save about $300,000, thanks to an improved bond rate.

They are expecting to save even more when they purchase the city’s street lights from National Grid. Fung says this will save an estimated $300,000.

If the city council approves Mayor Fung’s budget for the next fiscal year, property taxes will remain the same for Cranston residents and business owners.

The city council will be holding public hearings for the budget beginning Monday.