MAYOR JORGE O. Elorza on Tuesday unveiled a $567 million fiscal 2023 budget proposal with major cuts to city tax rates to offset higher property values. / PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS
PROVIDENCE – As property values soar under a recent city revaluation, Mayor Jorge O. Elorza wants to slash tax rates for the fiscal year that starts July 1. Elorza on Tuesday afternoon unveiled his proposed $567.3 million fiscal 2023 budget, including a nearly 25% drop in the city’s residential tax rate. But the proposed rate…