Council Approves the City’s $599 Million FY 2025 Budget

Council Approves the City’s $599 Million FY 2025 Budget

Focused investments in housing, public safety, climate change, and the most significant increase in funding for Providence Public Schools in at least 15 years

Providence, RI – At tonight’s Special City Council Meeting, councilors passed, for the second and final time, the City’s $599 million budget for the 2025 fiscal year. The budget features focused investments in housing, public safety, climate change, and, without raising property taxes, the most significant increase in funding for Providence Public Schools in at least 15 years. In the mayor’s proposed budget, there was an increase in education funding of $3 million. 2.City Council successfully negotiated an additional $2.5 million, bringing the total increase to $5.5 million.

Over the course of 8 weeks, the Finance Committee — chaired by Councilwoman Helen Anthony (Ward 2) — held two public hearings and met 15 times to thoroughly vet expenditures and requests first proposed by Mayor Brett Smiley.

“I am proud that the City Council passed an FY 2025 budget that supports students and teachers with a $5.5 million increase for public schools — a historic funding increase,” said Council President Rachel Miller (Ward 13). “This budget exemplifies Council’s investment in the well-being of Providence residents and our young people.”

Council continues to demonstrate commitment to the public school system by forming the Health, Opportunity, Prosperity, and Education (HOPE) Committee at the June 20th Council meeting. The committee is chaired by Councilman Juan Pichardo (Ward 9) and includes members Councilman Miguel Sanchez (Ward 6), Councilor Justin Roias (Ward 4), Councilwoman Shelley Peterson (Ward 14), and Councilor Sue AnderBois (Ward 3).

FY 2025 Amended Budget highlights include

$5.5 million in additional funding to Providence Public Schools, which now totals $135.5 million, the largest increase in at least 15 years
Funding for a new police academy to begin approximately in May 2025
Investments to address climate change, including $136,000 for a new sewer team to rapidly clear storm drains during flash floods

Highlights of Council-Led Initiatives

Providence Public Schools to receive $2.5 million in added funds to the mayor’s proposal of $3 million ($135.5 million in total)
Woonasquatucket River Watershed Council grant for $125,000 to aid in the creation of safe green spaces and accessible transportation routes
Municipal Court additions to include a bilingual clerk and public defender to address criminal justice inequality

Property Taxes

The budget does not increase property taxes. However, the homestead exemption (for residents living in their homes) has been eliminated for a new owner-occupied property tax rate.