Bill > H6162

This bill allows the City of Providence a special one-year exemption to its standard property tax levy cap for fiscal year 2026, permitting the city to increase its property tax levy up to 8% instead of the usual 4% cap that applies to most Rhode Island municipalities. Typically, Rhode Island cities and towns are restricted to increasing their annual property tax levy by a maximum of 4%, with some exceptions for emergencies, loss of revenue, debt service increases, or substantial growth in tax base. This specific bill is based on a unanimously passed Providence City Council resolution from March 20, 2025, and signed by Mayor Brett Smiley on March 24, 2025. The legislation would amend Section 44-5-2 of the Rhode Island General Laws by adding a new subsection that specifically grants Providence this temporary 8% levy cap exemption for fiscal year 2026. The bill would take effect immediately upon its passage, providing the city with additional flexibility in its tax collection for that fiscal year.

Budget and Finance, Housing and Urban Affairs

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