Town of Foster / Finance Director

Town of Foster / Finance Director TOWN OF FOSTER
NOTICE OF PROPOSED PROPERTY TAX RATE CHANGE
The Town of Foster proposes to increase its property tax levy to $15,438,269 in the 2026-2027 budget year; the property tax levy this year is $14,991,613. THIS IS A PROPOSED INCREASE OF 2.98%.
It is estimated that the proposed tax levy will result in a property tax rate of $22.16 per $1,000 of assessed valuation for real estate, and $31.12 per $1,000 of assessed valuation for tangible personal property, as compared to the current property tax rate of $21.52 per $1,000 of assessed valuation for real estate, and $31.12 per $1,000 of assessed valuation for tangible personal property.
A property tax rate of $22.40 for real estate and $31.12 for tangible personal property would be needed in the coming budget year to raise the maximum levy authorized by section 44-5-2 of the general laws.
The Annual Financial Town Meeting will be held at 7:00 pm on Tuesday, May 5, 2026 at the Captain Isaac Paine Elementary School, 160 Foster Center Rd.
The above property tax estimates have been computed in a manner approved by the Rhode Island Department of Revenue. Steven H. Plouffe, Town Council President
Financial Town Meeting
PROPOSED 2026-2027 CURRENT 2025-2026
EXPENDITURES Operating Capital Operating
Capital
$ 63,134 - - 591,000 119,133 - 240,000 - - - -
$ 1,013,267
Education $ 9,934,422 General Financial/Admin 1,521,064 Libraries 195,158
$- - - 575,000 86,000 - 250,000 - - - -
$ 911,000
$ 9,999,422 1,399,220 190,500 1,735,536 1,880,064 53,000 879,636 34,771 276,375 30,000 625,000 17,103,524 1,013,267 $18,116,791
$14,942,278 306,000 - 1,840,271 625,000 388,267 14,975 $18,116,791
Public Works
Police Protection
Animal Control
Fire & Rescue Protection
Parks & Recreation
Long-term debt and other obligation
Transfers to Other Funds
Capital Transfer
Total Operating
Total Capital
TOTAL EXPENDITURES $18,543,294
REVENUES
Local Property $15,375,523 Local Non-Property 330,500 Federal - State 1,904,096 Transfer from Capital 700,000 Use of Surplus/Captial Reserves 211,000 Transfer from Land Trust 22,175 TOTAL REVENUE $18,543,294
1,923,525 2,052,610 56,000 879,593 71,047 268,875 30,000 700,000 17,632,294 911,000
Certification: This is to certify that the data contained in this report are accurate to the best of my knowledge. Steven H. Plouffe, Town Council President.