Where your tax dollars go
North Smithfield FY2027 general fund — $57.7 million (up from $55.4M in FY2026)
Total budget
$57.7M
+4.17% vs FY2026
Property tax levy
$38.01M
residential rate: $11.572 / $1,000
Debt service (official)
$3.44M/yr
looks down 11.9% — see why below
Police station bond
$8.465M
3.619% TIC / 20yr, paid from reserves this year
For every $100 in taxes
FY2027 (current)
FY2026 (prior year)
What changed from FY2026 to FY2027
Both years now use the town's own adopted-budget figures, department by department.
The police station bond, and why "debt service" looks lower
Voters approved a $9M bond Feb 3, 2026. It's real debt — it just isn't hitting your tax bill yet.
The short version: Total debt service fell from $3.91M to $3.44M (−11.93%) — but not because of a single big bond retiring. School debt payments declined a modest $427,582 (−14.2%), and an old town bond worth roughly $850K/year finished paying off right around the same time the new police station bond's first payment began. Those two town-side moves nearly offset each other ($811,039 in new debt vs. ~$850K retiring), so total Town debt barely moved (−$38,573). The town is paying that new $811,039 police-bond payment out of reserves this year rather than the tax levy — Budget Committee members cited a preliminary $909,000–$1,000,000 figure at their June 1, 2026 meeting, before the bond actually priced on June 18; the confirmed, final number from the bond's own amortization schedule is $811,038.96. Without the reserve draw, the Budget Committee said the tax levy increase would have been roughly 5.1% instead of 2.61%.
School debt (principal + interest)
Other town debt (pre-existing, still amortizing)
Police station bond (new, FY2027 first year)
FY2026
$3.91M
FY2027
$3.44M
When does this actually hit taxpayers? Per Councilwoman DeCristofaro at the May 4, 2026 meeting, the reserve draw covers FY2027 and FY2028 — the levy impact doesn't show up until 2029. Estimated impact once it does, at the rate discussed that night (since revised down slightly): about $115/yr on a $350,000 home, $181/yr on $550,000, $246/yr on $750,000.
Two councilors (Alves, Punchak) declined to formally commit to using reserves for FY2028 as well, calling it "kicking the can down the road" — that resolution was tabled without a vote on May 4, even though the administration's submitted budget assumed it. The Budget Committee's own report recommended the FY2027 reserve draw but said the underlying funding question "should be studied further" and shouldn't wait for next year's budget cycle.
Tax rates, FY2026 vs FY2027
| Class | FY2026 | FY2027 | Change |
|---|---|---|---|
| Residential | $11.499 | $11.572 | +0.64% |
| Commercial | $16.936 | $17.008 | +0.42% |
| Tangible / Personal | $43.632 | $43.632 | flat |
| Motor Vehicle | — | $0.00 | eliminated |
The motor vehicle excise tax is fully eliminated for FY2027 — confirmed at the June 1, 2026 Budget Committee presentation ("car tax is now gone"). This is part of Rhode Island's statewide phase-out, backfilled by state MV Phase Out Reimbursement aid (which itself rose to $4.48M in FY2027).
$
FY2026 debt portion
per year
FY2027 debt portion
per year
Net change
Proportional estimate: (assessed value × residential rate / 1,000) × (debt service ÷ total budget) for each year. Doesn't reflect the future 2029 levy impact of the police bond described above — this is just today's official debt-service share.
Town reserves — audited as of June 30, 2025
Source: FY2025 Annual Financial Statements. The FY2026 audit isn't published yet (as of this writing) — these figures haven't changed since the last version of this tool.
Total general fund balance
$13.35M
grew $1.78M (+15.3%) in FY2025
Committed for police station building
$4.0M
no longer treated as protected — see below
Update: The town has confirmed the $4M is not being kept as a protected reserve for the police station. Instead, it's the source of funding for two things: the first two years of interest payments on the bond (the reserve-funded bridge covering FY2027 and FY2028, described above), plus roughly $1.5M in additional new project costs. What exactly those additional costs cover hasn't been detailed publicly — worth a direct follow-up question.
How the $13.35M is structured
Of the $13.35M total: $5.28M is the required minimum (12% of operating expenditures per town ordinance 29.2.B), $1.76M is buffer to the 16% ordinance maximum, $0.89M is truly flexible unassigned money, and $4.0M was earmarked for the police station — now being drawn down for bond interest and about $1.5M in added project costs, rather than held in reserve. A further roughly $1.4M sits in other committed/assigned categories (revaluation, capital, road resurfacing, etc.) — see sources below.
Sources and methodology
Every number on this page is traceable to a specific document, meeting, or page. Estimates are clearly marked.
Primary sources
FY2027 Budget: Town of North Smithfield, FY2027 Combined General Fund Budget — Appendix A (Revenue) and Appendix B (Expense Summary), showing FY2024–FY2026 adopted/actual and the FY2027 Town Council Adopted figure with net change vs. FY2026. Dated 6/26/2026.
FY2026 Budget: Same appendix, FY2026 Adopted Budget column; also confirmed by Valley Breeze (July 3, 2025): "The final general fund budget totals $55,352,785."
Audit: Town of North Smithfield, Annual Financial Statements for the Fiscal Year Ended June 30, 2025.
Meetings: North Smithfield Town Council, May 4, 2026 (police station bond resolutions); June 1, 2026 (Budget Committee FY2027 presentation); June 15, 2026 (budget public hearing / adoption).
Bond referendum: Valley Breeze / NRI Now reporting, Feb 3–4, 2026 special election (532–462 in favor of a bond up to $9M).
FY2026 Budget: Same appendix, FY2026 Adopted Budget column; also confirmed by Valley Breeze (July 3, 2025): "The final general fund budget totals $55,352,785."
Audit: Town of North Smithfield, Annual Financial Statements for the Fiscal Year Ended June 30, 2025.
Meetings: North Smithfield Town Council, May 4, 2026 (police station bond resolutions); June 1, 2026 (Budget Committee FY2027 presentation); June 15, 2026 (budget public hearing / adoption).
Bond referendum: Valley Breeze / NRI Now reporting, Feb 3–4, 2026 special election (532–462 in favor of a bond up to $9M).
Figure-by-figure sourcing
Total budget FY2027 ($57,657,063.48) / FY2026 ($55,352,135.10): FY2027 Combined Budget, Appendix B, "Total Expenditures" row (balanced against Total Revenues, also $57,657,063.48 for FY2027).
Tax levy FY2027 ($38,011,485.28) / FY2026 ($36,755,956.44): Appendix A, "Total Tax Revenue" row.
Tax rates: FY2026 confirmed by Valley Breeze (July 3, 2025) 4-1 council vote. FY2027 rates (residential $11.572, commercial $17.008, tangible $43.632, motor vehicle $0) as provided directly; not yet independently verified against a published town notice — flagged for confirmation.
Total assessed residential base: Estimated, same method both years: tax levy ÷ residential rate × 1,000. FY2026 ≈ $3.196B, FY2027 ≈ $3.285B. Approximate because the levy blends three rate classes; the residential share is dominant but not exact.
Debt service FY2026 ($3,908,331) breakdown: FY2026 Approved Budget, Appendix C (Expenditure Detail), p.22 — School Principal $2,605,913.71 + School Interest $401,487.40 = School debt $3,007,401.11; Town Principal $873,296.45 + Town Interest $27,633.82 = Town debt $900,930.27.
Debt service FY2027 ($3,442,177) breakdown: FY2027 Approved Budget, p.11 — School Principal $2,298,629.44 + School Interest $281,189.97 = School debt $2,579,819.41 (down $427,582, −14.2%, from FY2026 — this is the real driver of the year-over-year debt decline, not a single large bond retiring). Town Principal $469,283.00 + Town Interest $393,074.38 = Town debt $862,357.38 (down only $38,573 net), because the new police station bond's confirmed first-year payment of $811,038.96 (from the bond's own amortization schedule) landed almost the same year an old town bond of comparable size finished paying off. The remaining ~$51,318 of FY2027 Town debt is other pre-existing town debt still amortizing; we don't have a bond-by-bond FY2027 breakdown to name it precisely.
Police station bond terms: $8,465,000 issued (of $9,000,000 authorized by voters Feb 3, 2026 and by Council resolution May 4, 2026) — final terms dated June 18, 2026. True Interest Cost 3.619%; coupon rates range from 5.000% in early years down to 4.000%–4.125% in later years. 20-year term, final maturity 2046. Source: Town's official Bond Debt Service schedule for the "Public Safety Project" general obligation bonds.
Reserve draw for the bond payment ($909,000–$1,000,000 estimate): Budget Committee's June 1, 2026 presentation, made before the bond priced on June 18 — a preliminary estimate, not the final figure. The confirmed FY2027 payment is $811,038.96.
Reserve funding of the bond payment: Town Administrator Gibbs proposed a non-binding resolution of intent to fund the bond's principal and interest from unrestricted fund balance for FY2027 and FY2028 (May 4, 2026 meeting). Councilors Alves and Punchak objected; the resolution was tabled without a vote, though Gibbs stated the administration's submitted budget "assumes it" regardless. The June 1, 2026 Budget Committee presentation confirms the FY2027 budget does in fact fund the payment from reserves, quantifying the levy impact as described above.
Levy impact without the reserve draw (5.1% vs. 2.61%): June 1, 2026 Budget Committee presentation, in response to a direct question from Councilman Beauregard.
Future levy impact ($115/$181/$246 per year by home value): Councilwoman DeCristofaro, May 4, 2026 meeting, citing the fiscal advisor's original analysis at a 33-cent-per-$1,000 impact rate; she noted the rate had since dropped to roughly 27 cents. Not recalculated here — treat as an order-of-magnitude estimate, not this tool's own figure.
Motor vehicle tax elimination: Stated directly ("car tax is now gone") at the June 1, 2026 Budget Committee presentation.
Budget categories ("per $100" coin chart), both years: Approximate. Derived from FY2027 Combined Budget Appendix B department totals, grouped consistently across FY2026 and FY2027:
Schools: "Total School"
Police: Total NSPD + Total Dispatch + Total Animal Control
Fire: Total NSFD
Roads: Total Highway + Total DPW (including capital transfers)
Debt: Total Debt Service
Govt: Town Council, Probate Court, Legal, Municipal Court, Administration, Town Clerk, Planning, Board of Canvassers, Finance, Tax Assessor, IT, Juvenile Hearing Board
Parks: Total Parks & Rec. (incl. capital) + NS Library
Other: Remainder — General Government department, Building & Zoning, EMA, Conservation/Historic/Economic Development/Art committees, etc.
Percentages rounded to whole dollars per $100; rounding adjustment applied to the largest category (Schools).
Police: Total NSPD + Total Dispatch + Total Animal Control
Fire: Total NSFD
Roads: Total Highway + Total DPW (including capital transfers)
Debt: Total Debt Service
Govt: Town Council, Probate Court, Legal, Municipal Court, Administration, Town Clerk, Planning, Board of Canvassers, Finance, Tax Assessor, IT, Juvenile Hearing Board
Parks: Total Parks & Rec. (incl. capital) + NS Library
Other: Remainder — General Government department, Building & Zoning, EMA, Conservation/Historic/Economic Development/Art committees, etc.
Reserve figures: Unchanged from the FY2025 audit (Balance Sheet — Governmental Funds, General Fund column). Total fund balance $13,350,006; unassigned $7,931,015; committed for "Police station building" $4,000,000. The FY2026 audit has not yet been published as of this writing; the town has been asked directly for a release date.
Reserve thresholds: 16% ordinance maximum ($7.04M) and 12% ordinance minimum ($5.28M), both against an operating expenditure base of ~$44M derived from the FY2025 audit MD&A, per North Smithfield Ordinance 29.2.B. Not yet updated for FY2026/FY2027 — will be revised once a new audit or an updated operating base is available.
Limitations and caveats
This visualization is informational, not financial advice. Key limitations: (1) The ~$51,318 "other town debt" residual in FY2027 is a mathematical remainder, not a bond-by-bond confirmed figure — we don't have a full Appendix C detail for FY2027 to name which specific pre-existing bond it is. (2) The $4M reserve previously committed to the police station has an unconfirmed status now that the project was bond-financed at $8.465M rather than drawing on it. (3) Reserve threshold percentages still use an operating base derived from the FY2025 audit; the town has confirmed the FY2026 audit (not yet published) should show total fund balance up roughly $500K–$1M, concentrated in the Unassigned category, which will shift these figures once available. (4) Category groupings for the "per $100" chart involve judgment calls about which departments to combine, applied consistently across both years for comparability.
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