Providence’s recently completed statistical revaluations show that property values are up across the city.
The revaluation was mandated by state law and conducted by the professional firm, Cole Layer Trumble Company. The city’s revaluation was done at the same time as revaluations in other cities in Rhode Island, including West Warwick, Warwick, and East Providence.
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“The message to Providence property owners is this: your property is worth more. This revaluation confirms that Providence is an increasingly attractive place to live, work, and own a business,” Mayor David Cicilline said in a press release. “Particularly encouraging is the fact that homes are worth more across the city, not just in particular neighborhoods.”
The Mayor introduced legislation to authorize the city to modify tax classifications and adjust existing exemptions, in order to provide the City with greater flexibility in responding to increased residential values. Cicilline’s administration is studying a range of options to “protect residential taxpayers from the shifting of tax burden from commercial to residential properties,” according to the release.
Property owners who want to discuss their appraisals can call 401.228.8000 to arrange an appointment.
To view property revaluation data, go to http://providenceri.com/TaxAssessor/
