Providence OKs $662M budget plus tax hikes

The Providence City Council gave final approval Monday to a $662 million budget that includes increases in residential property taxes.

The tax rate for those living in their own homes will increase from $15.95 to $19.25 per $1,000 of assessed value. The rate for landlords goes from $27.11 to $33.75.

The city's commercial tax rate won't go up under the plan, which takes effect on July 1.

The budget, which passed on a 9-6 vote, also increases spending by about $20 million and includes money to hire more police officers and firefighters.

It also includes pay raises for existing police officers, firefighters, teachers and other city employees.

City officials told NBC 10 the budget will help investments in economic growth, job creation, education, public safety, and infrastructure.

There will be two new positions at the Department of Inspections and Standards. The budget also invests in road repairs.

The Associated Press contributed to this report.