Providence City Council approves $568M budget

Kevin Perrington-Turner,
This is a file image of Providence City Hall. (WLNE)

PROVIDENCE, R.I. (WLNE) — The Providence City Council has approved a $568 million budget for the city for the 2023 fiscal year.

The council approved the budget Thursday night and it does include a residential tax rate decrease for homeowners.

However, despite the decrease from $24.56 to $17.80 per $1,000, homeowners are expected to have higher tax bills as home values increased by nearly 50%. The homestead exemption was also increased to 45% from 40%.
The committee also approved lowering the tax rate on commercial properties and decreasing the business tangible tax.

The budget also allows for hiring a full-time fire chief, and funding for a new police academy, adding 50 officers.

Council President John Igliozzi expressed the impact this budget approval will have on elderly homeowners in the city as inflation rises.

“We lessened the tax burden on our single-family and multi-family homeowners and protected our most vulnerable, senior citizens. The tax levy and budget help fund the city’s entire operation, from our contract with the laborers to keeping our police and fire departments staffed and ready to maintain public safety,” he said.

It now goes to Mayor Elorza’s desk. ABC6 reached out for comment to see if he’ll sign it, and are waiting to hear back.

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