Providence: Smiley 2026 budget calls for property tax hikes, small business tax cuts
PROVIDENCE, R.I. (WLNE) — Providence Mayor Brett Smiley has unveiled his proposed budget for the 2026 fiscal year.
The biggest takeaways include increasing property bills, making millions of dollars in cuts and increasing revenue.
Homeowners will see a property tax hike of four percent, which Smiley said that will amount to about $13 a month.
At the same time, Smiley said his budget will also lower taxes for small businesses to its lowest rate since 2009.
The mayor said a settlement with the state department of education, that required Providence to put millions toward the school funding gap, forced the property tax increase.
According to the mayor, to cut costs and avoid a higher tax increase, the city cut 23 jobs and more than $9 million from the city’s $624 million budget.
The city council’s finance committee will now hold hearings about the budget plan and propose revisions.
The public will also have a chance to weigh in, and the council will need to pass the budget before the mayor signs it.
