EAST PROVIDENCE – Property owners will be temporarily spared from rising property costs under a decision to delay the triennial property revaluation, the city announced in a news release.
Recently approved state-enabling legislation allows the city to move ahead with its plan to postpone implementation of its most recent property revaluation until December 2022, one year later than previously planned. The decision to push off the property revaluation comes amid skyrocketing property values, as well as significant fluctuations within different types of properties, which the city believes are artificially inflated and would have unfairly burdened city property owners with higher tax bills.
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“Had we moved forward with this revaluation and had we not worked with our state delegation to make this change, residents would have seen artificially inflated increases in tax payments for the next three years,” Mayor Roberto L. DaSilva said in a statement.
Annual tax bills based on existing property values and a new city tax rate will be sent out the week of June 13. While property values are the same, the city has increased its tax rate by 1.6%, equal to about $70 more for the average property owner, the release stated.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.