Providence, along with Rhode Island communities such as Warwick, West Warwick and Pawtucket, is completing its three-year statistical revaluation, with preliminary estimates to be mailed to residents and business owners across the city starting Monday.
The City’s Acting Tax Assessor, John Gelati, advises property owners not to apply the current tax rate to these new valuations, as the property tax rate will be lowered.
Cole Layer Trumble Company – a nationally recognized professional assessing firm – performed the revaluation over the last year. The revaluation is based on a study of the actual sales of homes and property in Providence since 2001. Every three years, cities and towns are required by state law to complete a revaluation of all real property, the purpose of which is to ensure that all property is fairly and equitably assessed.
