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Even with a maximum increase in property taxes each year for the next 5 years from fiscal 2020 through 2024, if no significant structural changes are made to the city and school budget to reduce the cost of active and retired employee benefits, Warwick will have a deficit between $50 to $70 million.

For the final 3 months of this fiscal year, 2019, an approximate $11 million structural deficit exists. Schools $$4.9 million deficit. City $6.25 million deficit.

For the 2020 fiscal year that begins on July 1, the structure deficit is approximately $16 million.

Keep in mind a max tax increase in the 2020 fiscal budget brings in an additional $8.6 million.