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Providence: City Council Finance Committee Passes $598 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—Tonight, the Providence City Council Finance Committee passed the city’s $598 million FY 2025 budget, which prioritizes investments in housing, public safety, climate change, and the most significant increase in funding for Providence Public Schools in at least 15 years without raising taxes on property owners.

 

The Finance Committee, chaired by Councilwoman Helen Anthony (Ward 2),

held two public hearings and met 15 times over 8 weeks, with members thoroughly vetting expenditures and requests first introduced by Mayor Brett Smiley.

 

“I’d like to thank our Finance Committee members for their dedication and the incredible amount of time they spent thoroughly reviewing this year’s budget,” said Finance Committee Chair Helen Anthony (Ward 2). “I want to thank Providence residents for engaging and making their priorities known. I also appreciate the work of the mayor’s team and department directors, who responded to numerous questions about their budget proposals from city councilors. I’m proud the council added additional funding to the budget to support our students and public schools — it is not enough to meet the enormous needs our schools face, but I hope it sends a signal that we must work proactively to identify a path to the quality and fiscally sustainable public school system our families deserve.”

 

 

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 Rivershed Greenway 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.

 

Owner-occupied tax rate $10.46 per $1,000

 

Non owner-occupied tax rate remains $18.35 per $1,000

 

Commercial property tax remains $35.10 per $1,000

 

 

What’s next?

 

The amended budget must be approved twice by the City Council to take effect. Meetings are tentatively scheduled for June 20th and June 25th.