Tax Assessor Department

What is a Revaluation?

Periodically, each city and town in the state of Rhode Island is required to undertake a full revaluation of all the taxable property in the respective jurisdictions, with a three-year statistical update in between. The object of a revaluation project is to equalize the assessments of properties at fair market value. In other words, the revaluation project estimates the fair market value of properties so that similar properties have similar assessments.

Rhode Island General Law 44-5-11 that statistical updates be performed every three (3) years with a full physical revaluation every nine (9) years.

Why conduct a Revaluation?

Local property taxes are a significant part of the expense of owning property.  The major reason for the revaluation is quite simple;  a full revaluation, which was last performed for the 12/31/2008 assessment,
Neighborhoods change and the economic climates change, meaning that some properties have become over assessed or under assessed when compared with similar properties.  If property values are correct and fair then each taxpayer will only be taxed their fair share.

What is fair market value?

Fair Market Value is a legal standard defined by the courts as the price established between a willing buyer and a willing seller, not forced to buy or sell, taking into consideration the uses to which the property is adapted.

Keep in mind what’s important:

Recent comparable sales, condition, neighborhood, building area, lot size and location are the most critical factors in the valuation process.

Who determines the value of my property?

People do. You, the person who sold it to you, and the person who is willing to buy it from you. The true test is what your property is worth now in today’s Real Estate Market.

What if I disagree with the assessment value of my property?

When questioning the assessment value, ask yourself three questions:

Is my data correct? (House dimensions, baths, lot size etc)
Is my value in line with others on the street?
Is my value in line with recent sale prices in my neighborhood or comparable areas?

What can I do if I think my value is wrong?

If you still disagree after reviewing the data, the Assessor will assist you with an appeal through the Tax Assessment Board of Review. Applications to the Board of Review are available at the Assessor’s Office.

If you still disagree after the Assessment Board of Review Hearing, you may file an appeal to Superior Court as provided by State Law.

Should I pay my taxes if I choose to appeal?

Yes. You should pay your taxes for two (2) major reasons:

To avoid interest being added and avoid any court costs including attorney’s fees, if your non-payment is referred for collection.
So you will not lose your right of appeal for nonpayment as required by law.

What about exemptions?

Any person who is presently receiving a reduction in taxes through any exemption program will continue receiving the tax credit so long as you still meet the eligibility requirements.

Where can I get more information?

The Assessors’ Office has a number of resources for your use.  Please contact them at 847-7300.