Providence Tax Rate to be Determined in Early Summer
Visit the Providence Tax Assessor records website: http://providence.ias-clt.com/parcel.list.php PROVIDENCE — Mayor David N. Cicilline on Friday submitted a proposed $639-million budget for the fiscal year that starts July 1. It calls for no increase in the tax levy. The budget is a 3.5-percent increase over the current budget ($618 million), but just below the city budget for fiscal year 2009 ($640.6 million). It proposes a property tax levy — the amount of revenue that the city will raise through the property tax — of about $274 million, which is the same amount that was raised from taxes this year. But how the decision to keep the tax levy steady at this year’s rate will affect property tax bills for residents and businesses is unclear. The city is in the process of completing a full property revaluation, which will determine the taxable values for city properties and is required by the state every nine years. Statistical revaluations, based on home-sale price data, are conducted every three years. City Director of Administration Richard Kerbel says that Cole-Layer-Trumble Co., the company hired to do the revaluation, will continue its work through the early summer. “When their work is complete, we will know what the [total] assessed valuation is of the city, and then we can begin the process of determining what the tax rates will be,” he said. The residential property-tax rate is currently $24.21 per $1,000 of assessed value; the commercial rate is $28.60.
