Mayor Lisa Baldelli-Hunt Proposes FY’18 Budget
Posted on: May 15, 2017 - 5:00pm
FOR IMMEDIATE RELEASE
May 15, 2017
Contact: Blake Collins, bcollins@woonsocketri.org, office: (401) 762-6400 ex: 2963, cell: (508) 838-3371
Mayor Lisa Baldelli-Hunt Proposes FY’18 Budget
Spending Plan Cuts Taxes and Invests in Roads, Public Safety and Blight Removal
WOONSOCKET, R.I.: Mayor Lisa Baldelli-Hunt today announced details of her proposed Fiscal Year 2018 spending plan for the City of Woonsocket. The $140,828,691 budget proposal includes tax cuts to residential and commercial tax rates – the second consecutive year both tax categories have been lowered. The plan also proposes to double the tax exemption for war veterans and widows and widowers of war veterans.
“We have demonstrated that through prudent budgeting we can reduce the tax burden upon our hardworking residents, while still improving City services by investing in key sectors of the community,” said Mayor Lisa Baldelli-Hunt. “The FY’18 budget reflects this Administration’s priorities to reduce the City’s debt burden; improve quality of life through strategic investments in our roads, parks, and public spaces; invest in public safety; eradicate blight from our neighborhoods; and stimulate economic development while still recognizing the importance of relief for our commercial rate payers.”
The residential real estate tax rate is proposed to be lowered 3.14%. As an example, a single-family owner-occupied home assessed at $150,000 would save $112.50 on their tax bill at the new proposed rate. In addition, those eligible for a veteran’s exemption (war veteran, widows and widowers of war veterans) will receive an exemption credit which has been doubled to $158.76 from $79.38.
“This budget is our roadmap for the next fiscal year, and it is critical that our City has competitive tax rates as it still improves the quality of life for residents and businesses in the community,” added Mayor Baldelli-Hunt. “Our goal, through responsible budgeting, is to invest in immediate improvements for Woonsocket, and lay a foundation for future budget stability.
Mayor Lisa Baldelli-Hunt’s FY’18 proposed budget can be read in full here: http://bit.ly/2rdxyAU.
-30-