PROVIDENCE, R.I. (WLNE) — The Providence City Council’s Finance Committee said it passed the city’s $598 million fiscal year 2025 budget.
The committee said the budget “prioritizes investments in housing, public safety, climate change, and increased funding for Providence Public Schools.”
Budget inclusions highlighted by the committee include $5.5 million in additional funding to Providence Public Schools, which totals $135.5 million, $136,000 for a new sewer team to clear storm drains during flash floods, and a Woonasquatucket Rivershed Greenway grant for $125,000 to “aid in the creation of safe green spaces and accessible transportation routes.”
“I’m proud the council added additional funding to the budget to support our students and public schools,” Finance Committee Chair Helen Anthony said. “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.”
The committee added that the budget did not increase property tax rates, but did eliminate the homestead exemption for residents living in their homes in favor of a new owner-occupied property tax rate.
The owner-occupied tax rate is $10.46 per $1,000, while the non owner-occupied tax rate remains $18.35 per $1,000 and the commercial property tax remains $35.10 per $1,000.
