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North Smithfield council adopts lower residential rate, keeps commercial below 150% cap
Summary
The North Smithfield Town Council voted 4–1 to set the residential tax rate at 11.499, the commercial rate at 16.936 and the tangible rate at 43.632; council members debated three rate options presented by town staff and discussed impacts on homeowners and businesses.
The North Smithfield Town Council voted to set the town's property tax rates for the coming fiscal period, approving a plan that sets the residential rate at 11.499, the commercial rate at 16.936 and the tangible rate at 43.632.
Town staff member Jen presented three options that councilors could choose from and explained the rationale behind each. "So the first option, we have giving as much as I can as much relief to residential as I could without going over the 150%. So it brings residential to 11.499 and commercial to 16.936," Jen said. She also presented an option that would decrease both residential and commercial rates by the same percentage and an option that would hold commercial at about 141.7% of residential.
The council discussed assessments and how changes in assessed values affected tax liability. Staff noted that median single‑family assessed value had risen since last year and that assessed tangible property rose by about $9 million largely attributable to National Grid / Rhode Island Energy investments. Jen and council members emphasized that the illustrative changes were calculated from median values and individual bills would vary. One council member summarized procedural next steps before moving to a vote: "I'm gonna make a motion to, to approve the option number 1 for real estate at $11 and 11.499, commercial at 16.936, and tangible at 43.632 for the, FY '25 2425 fiscal year." The motion was seconded.
On roll call, one councilor voted no; four voted yes, carrying the measure. The council did not change the tangible rate cap, which staff said is limited by recent law and an asset exemption in place for many small businesses. The vote concluded with the town clerk prepared to finalize signatures and the council continuing to discuss outreach and comparisons with neighboring municipalities.
The adopted rates and the accompanying staff materials (median examples and comparative town rates) will be filed with the town clerk as the official action recorded at the June 30 special meeting. The council did not adopt any additional homestead or senior changes at this meeting; staff said any such program would require separate legislative or administrative action.
