The Tax Assessors Office functions under the laws of Rhode Island and Ordinances established by the Newport City Council.
According to Rhode Island General Law, all property subject to taxation shall be assessed at its Fair Market Value. Assessments estimate the Fair Market Value each December 31st. Fair Market Value is defined as the price at which a property would transfer between knowledgeable unrelated parties, after reasonable exposure to the public, and without undue influence. Actual sale prices form the basis for this analysis.
The last revaluation of property in Newport was done as of 12/31/2017. These values were presumed to be 100% of Fair Market Value as of that date. This information is currently being hosted on the Vision Appraisal web site (click here). 2020 Property Revaluation Notice The City of Newport has begun the 2020 full Property Revaluation. The state of Rhode Island mandates that Cities and Towns revalue all property every three years, (RIGL 44-5-11.6), and perform full inspections every 9 years. Newport conducted a “Statistical” project in 2017, and now is required to conduct inspections of all properties for the 2020 project. The Town has hired Northeast Revaluation Group LLC, a municipal revaluation vendor located in Warwick, RI to assist with the project. Data Collectors for Northeast have identification badges, and their automobiles are registered with the Police Department. They also will be wearing a red shirt or vest with the Northeast logo. When visiting a property, Inspectors will place a specialized door hanger on the appropriate door, knock, and step back a minimum of 6 feet. The door hanger will explain that there is no request to enter the property, only that the data collector will be inspecting the outside of the home. At a later date, the property owner will receive an Interior Data Verification letter that will provide an opportunity to review the interior features and make adjustments. The assessing department has additional details regarding this process should homeowners have a question. Note that Data Collectors will not be making any valuation decisions. The project is scheduled for completion in early 2021 and property owners can expect to receive a new assessment notice at that time. For any questions or concerns regarding this process, please call the Assessor’s office at 401-845-5364. If you would like to know more about property revaluations this link should be helpful https://nereval.com/wp-content/uploads/2017/12/Revaluation-Explained-web.pdf
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