The levy imposed on real estate within Providence, Rhode Island, is determined by the city’s assessed value and the applicable millage rate. This charge funds essential municipal services such as schools, infrastructure maintenance, and public safety. For instance, a property assessed at $300,000 with a millage rate of 20 would incur an annual tax of $6,000.
Municipal revenue generated through this mechanism plays a vital role in maintaining the city’s operational budget and delivering crucial services to residents. The rate’s stability and predictability allow for effective urban planning and resource allocation, contributing to Providence’s economic health and overall quality of life. Historical adjustments reflect the city’s evolving needs and economic conditions.
