About the Budget & Capital Improvement Plan
The Proposed FY27 Budget
Boasting one of the State's top Bond Ratings, Lowest Residential Tax Rates, and largest Fund Balance, the City of Newport prides itself on its fiscal discipline and adherence to best budgetary practices.
Newport's Budget and Capital Improvement Plans represent the cornerstones of the City's annual fiscal planning process.
While the Capital Improvement Plan is a planning and visioning document, the annual budget provides a detailed funding plan and defined annual tax rates.
For folks interested in a deeper dive into to the City's current financial outlook, the proposed budget also contains important information regarding:
- State Aid
- Tourism-related Revenues
- Staffing Levels
- Pension Liabilities
- and more
Scroll below to learn more about this year's Budget and Capital Improvement Plans, as proposed.
Proposed FY27 Budget
Overview
The proposed FY2027 budget includes a property tax levy increase of 1.99%, below the State's statutory levy increase cap of 4.00% and continuing the City's careful approach to managing costs while supporting essential services. Proposed Property Tax RatesThe proposed FY2027 tax rates are preliminary and will be finalized once all two-tier residential tax program applications have been processed. Tax rates represent the amount of tax payable per $1,000 of assessed property value.
The City's two-tier residential tax structure continues to prioritize tax relief for year-round residents while supporting the City's overall property tax structure.
The proposed FY2027 budget continues Newport's tradition of prudent financial management by:
- Maintaining strong fiscal oversight and balanced operations
- Investing in infrastructure and capital improvements
- Supporting public education and core municipal services
- Protecting the City's long-term financial stability
Through careful planning and responsible budgeting, the City remains well positioned to meet current service demands while preparing for future needs. Below are some of the highlights.
Responsible Taxation
The proposed FY2027 preliminary tax rates reflect modest increases necessary to support municipal services, infrastructure investment, and education funding while maintaining affordability for Newport residents.
Importantly, the impact on homeowners remains minimal. Under the proposed FY2027 rates, a resident with an owner-occupied home assessed at $1,000,000 would see their annual property tax bill increase by less than $100, which amounts to $8.29 per month. For a non-owner occupied residential property assessed at the same value, the annual tax bill would increase by approximately $121, or $10.08 per month.
Capital Investment
The proposed FY2027 budget includes $6,243,533 in capital projects, supporting the continued improvement of City infrastructure, facilities, and equipment necessary to maintain reliable municipal operations.
Of this amount, $3,870,052 is proposed to be funded from committed fund balance (excess financial reserves), allowing the City to address capital needs while preserving financial stability and avoiding additional borrowing where possible.
Coupled with a $4,000,000+ Safe Streets and Roads for All (SS4A) grant from the U.S. Department of Transportation, these investments reflect the City's ongoing commitment to the "Keep Newport Moving" Transportation Master Plan along with the maintenance of roads, public facilities, technology systems, and other essential infrastructure that support public safety, economic activity, and quality of life.
Staffing
The proposed FY2027 budget includes the addition of two laborer positions within the Department of Public Works, along with targeted personnel actions within the Office of the City Engineer, to address the increasing year-round operational demands and scope-of-work requirements placed on those departments
The budget also continues to account for anticipated cost-of-living adjustments and contractual obligations for City employees, ensuring that Newport remains competitive in recruiting and retaining a qualified municipal workforce.
School Funding
The City continues to evaluate the financial implications of the Rogers High School and Pell Elementary School project and the associated state reimbursement.
At this time, the City is not committing to a final Rhode Island Department of Education (RIDE) housing aid reimbursement rate for the Rogers/Pell addition project until a determination is made regarding potential school regionalization (unification) with Middletown. If regionalization occurs, the City's reimbursement rate could increase from the current maximum of 55% to as much as 81 %, significantly reducing the long-term financial burden on Newport taxpayers.
Maintaining flexibility on this issue ensures that the City is positioned to take advantage of potential state funding opportunities while protecting local taxpayers.
Click here to download a full copy
Capital Improvement Plan
The 2027- 2031 Capital Improvement Program represents more than $414.6 million in proposed investments, excluding unfunded utility projects- a tangible expression of Newport' s ongoing transformation. It connects policy to pavement, planning to progress, and vision to reality-ensuring that Newport not only preserves its legacy but builds boldly for generations to come.
Proposed CIP Highlights
Transportation & Mobility
- "Keep Newport Moving" Implementation - advancing multi-modal infrastructure, consistent with the Transportation Master Plan and Strategic Plan.
- Dynamic Parking Signage and Multimodal Parking - improving circulation, efficiency, and accessibility in key corridors.• Broadway Signal Timing@ Pleasant Street & Friendship Street - supporting smoother traffic flow and pedestrian safety.
- Roads and Sidewalks Upgrades - $15 million investment, fulfilling the Strategic Plan's call for safe, well-maintained public spaces.
Climate Resilience & Sustainability
- Elizabeth Brook Daylighting & Easton's Pond Hardening - infrastructure investments aligned with the North End Urban Plan and Resilient Newport goals, leveraging grants for stormwater management and flood protection as a commitment to equitable redevelopment.
- Easton 's Beach Nourishment Program - $ 10.2 million to safeguard coastal assets, preserve recreation space, and mitigate sea-level rise.
- Seawall Restoration - $ 12.7 million to protect homes, businesses, and heritage sites from coastal impacts.
Community & Public Facilities
- Perrotti Park Bulkhead Replacement ($6M) and Harbormaster Building Renovation ($8M) -strengthening maritime infrastructure central to the Harbor Management Plan and local economy.
- North End Public Safety Complex ($7.25M) - a modern, resilient facility supporting the city's commitment to public safety.
- Harrison Avenue Site & Van Zandt Bridge Improvements - continuing neighborhood reinvestment a nd mobility improvements.
- Parks, Grounds, and Playgrounds ($3.3M) - implementing the Open Space Master Plan vision of connected, inclusive green spaces.
Technology & Modernization
- Information and Communication Systems ($4.2M) - upgrading digital infrastructure to support smarter city services.
- Equipment and Vehicle Replacement ($4.9M) - maintaining ope rational readiness and efficiency.
Click here to download a copy
Watch the CIP Workshop & Presentation
About the Budget & Capital Improvement Plan
The Proposed FY27 Budget
Boasting one of the State's top Bond Ratings, Lowest Residential Tax Rates, and largest Fund Balance, the City of Newport prides itself on its fiscal discipline and adherence to best budgetary practices.
Newport's Budget and Capital Improvement Plans represent the cornerstones of the City's annual fiscal planning process.
While the Capital Improvement Plan is a planning and visioning document, the annual budget provides a detailed funding plan and defined annual tax rates.
For folks interested in a deeper dive into to the City's current financial outlook, the proposed budget also contains important information regarding:
- State Aid
- Tourism-related Revenues
- Staffing Levels
- Pension Liabilities
- and more
Scroll below to learn more about this year's Budget and Capital Improvement Plans, as proposed.
Proposed FY27 Budget
Overview
The proposed FY2027 budget includes a property tax levy increase of 1.99%, below the State's statutory levy increase cap of 4.00% and continuing the City's careful approach to managing costs while supporting essential services. Proposed Property Tax RatesThe proposed FY2027 tax rates are preliminary and will be finalized once all two-tier residential tax program applications have been processed. Tax rates represent the amount of tax payable per $1,000 of assessed property value.
The City's two-tier residential tax structure continues to prioritize tax relief for year-round residents while supporting the City's overall property tax structure.
The proposed FY2027 budget continues Newport's tradition of prudent financial management by:
- Maintaining strong fiscal oversight and balanced operations
- Investing in infrastructure and capital improvements
- Supporting public education and core municipal services
- Protecting the City's long-term financial stability
Through careful planning and responsible budgeting, the City remains well positioned to meet current service demands while preparing for future needs. Below are some of the highlights.
Responsible Taxation
The proposed FY2027 preliminary tax rates reflect modest increases necessary to support municipal services, infrastructure investment, and education funding while maintaining affordability for Newport residents.
Importantly, the impact on homeowners remains minimal. Under the proposed FY2027 rates, a resident with an owner-occupied home assessed at $1,000,000 would see their annual property tax bill increase by less than $100, which amounts to $8.29 per month. For a non-owner occupied residential property assessed at the same value, the annual tax bill would increase by approximately $121, or $10.08 per month.
Capital Investment
The proposed FY2027 budget includes $6,243,533 in capital projects, supporting the continued improvement of City infrastructure, facilities, and equipment necessary to maintain reliable municipal operations.
Of this amount, $3,870,052 is proposed to be funded from committed fund balance (excess financial reserves), allowing the City to address capital needs while preserving financial stability and avoiding additional borrowing where possible.
Coupled with a $4,000,000+ Safe Streets and Roads for All (SS4A) grant from the U.S. Department of Transportation, these investments reflect the City's ongoing commitment to the "Keep Newport Moving" Transportation Master Plan along with the maintenance of roads, public facilities, technology systems, and other essential infrastructure that support public safety, economic activity, and quality of life.
Staffing
The proposed FY2027 budget includes the addition of two laborer positions within the Department of Public Works, along with targeted personnel actions within the Office of the City Engineer, to address the increasing year-round operational demands and scope-of-work requirements placed on those departments
The budget also continues to account for anticipated cost-of-living adjustments and contractual obligations for City employees, ensuring that Newport remains competitive in recruiting and retaining a qualified municipal workforce.
School Funding
The City continues to evaluate the financial implications of the Rogers High School and Pell Elementary School project and the associated state reimbursement.
At this time, the City is not committing to a final Rhode Island Department of Education (RIDE) housing aid reimbursement rate for the Rogers/Pell addition project until a determination is made regarding potential school regionalization (unification) with Middletown. If regionalization occurs, the City's reimbursement rate could increase from the current maximum of 55% to as much as 81 %, significantly reducing the long-term financial burden on Newport taxpayers.
Maintaining flexibility on this issue ensures that the City is positioned to take advantage of potential state funding opportunities while protecting local taxpayers.
Click here to download a full copy
Capital Improvement Plan
The 2027- 2031 Capital Improvement Program represents more than $414.6 million in proposed investments, excluding unfunded utility projects- a tangible expression of Newport' s ongoing transformation. It connects policy to pavement, planning to progress, and vision to reality-ensuring that Newport not only preserves its legacy but builds boldly for generations to come.
Proposed CIP Highlights
Transportation & Mobility
- "Keep Newport Moving" Implementation - advancing multi-modal infrastructure, consistent with the Transportation Master Plan and Strategic Plan.
- Dynamic Parking Signage and Multimodal Parking - improving circulation, efficiency, and accessibility in key corridors.• Broadway Signal Timing@ Pleasant Street & Friendship Street - supporting smoother traffic flow and pedestrian safety.
- Roads and Sidewalks Upgrades - $15 million investment, fulfilling the Strategic Plan's call for safe, well-maintained public spaces.
Climate Resilience & Sustainability
- Elizabeth Brook Daylighting & Easton's Pond Hardening - infrastructure investments aligned with the North End Urban Plan and Resilient Newport goals, leveraging grants for stormwater management and flood protection as a commitment to equitable redevelopment.
- Easton 's Beach Nourishment Program - $ 10.2 million to safeguard coastal assets, preserve recreation space, and mitigate sea-level rise.
- Seawall Restoration - $ 12.7 million to protect homes, businesses, and heritage sites from coastal impacts.
Community & Public Facilities
- Perrotti Park Bulkhead Replacement ($6M) and Harbormaster Building Renovation ($8M) -strengthening maritime infrastructure central to the Harbor Management Plan and local economy.
- North End Public Safety Complex ($7.25M) - a modern, resilient facility supporting the city's commitment to public safety.
- Harrison Avenue Site & Van Zandt Bridge Improvements - continuing neighborhood reinvestment a nd mobility improvements.
- Parks, Grounds, and Playgrounds ($3.3M) - implementing the Open Space Master Plan vision of connected, inclusive green spaces.
Technology & Modernization
- Information and Communication Systems ($4.2M) - upgrading digital infrastructure to support smarter city services.
- Equipment and Vehicle Replacement ($4.9M) - maintaining ope rational readiness and efficiency.
Click here to download a copy
Watch the CIP Workshop & Presentation
