Vehicles registered in Newport, RI are taxed for the PREVIOUS calendar year, (i.e. 2019 tax bills are for vehicles registered during the 2018 calendar year).
By law you are required to change your address with the Rhode Island DMV within 10 days of moving. By law you are required to physically return your plates to the Rhode Island DMV.
You are taxed on the amount of days you have an active registration. Moving, selling, gifting, junking your vehicle, throwing away your plates, registering your vehicle in a new State etc. do not constitute the proper way of canceling your registration.
If you do not return your plates to the DMV you will be responsible for the taxes until you do so or the plates expire, whichever occurs first. Please see www.dmv.ri.gov for more information and the correct procedure for returning your license plates. Do not mail your plates to the Assessor's office.
Businesses registered in Newport, RI are taxed for the PREVIOUS calendar year, (i.e. 2019 tax bills are for active businesses during the 2018 calendar year).
You have an active business if you have not properly closed your business by either closing with the Assessor's office in person or by filling out the Close of Business form by mail.
Submitting a Close of Business form is the ONLY acceptable way of officially closing your business with the City as stated on your application with the Tax Assessor's office when you opened your business.
We cannot close your account retroactively. Example: If you say you closed your business in 2017 but did not file the close of business until 2018, you will be responsible for the tax bill you receive in 2018. I did not receive a tax bill for my business even though I am currently operating. Why is that? The State of Rhode Island legislature passed a law exempting the first $50,000 of taxable value. This means businesses who’s taxable asset value that is under the $50,000 threshold will not receive a bill. Businesses that have a taxable value over that amount will only be taxed on the value in excess of that the exemption. For example, if your taxable value is $32,500, you will not receive a bill. If your taxable value is $75,000, then the Tangible tax rate will only be applied to the remaining $25,000. ($75,000-$50,000=$25,000 of taxable value)
If you believe your assessment does not represent fair market value, you may appeal to the Assessor's Office and/or the Board of Tax Appeals by completing the Appeals Form. Appeal forms and a brief description of the appeal process can be found on the Appeals page. Both pages of the Appeals Form must be completed and returned to the Assessor's Office within 90 days of the first payment due date (RI Gen. Laws 44-5-26). Taxes must be paid in accordance with the original billing schedule until the matter is resolved.
Real Estate is first assessed at its market value on December 31st, but is subject to review and adjustment during the calendar year when substantial construction or demolition has occurred. Assessments may also increase or decrease when sales of similar properties indicate an inequity in a class or neighborhood.
Motor Vehicles are assessed at the book value which is researched and determined by the Rhode Island Vehicle Value Commission. Values are determined as of December 31st and taxes are pro rated for the number of days during the previous calendar year that the vehicle had an active Rhode Island Registration.
Disposition of the vehicle has no bearing on the tax. The plates must be returned to DMV and the registration canceled, or the vehicle will be taxed until the registration expires. Appeals of motor vehicle assessments must be made within 30 days of the mailing of the bill (RI Gen. Laws 44-34-8).
Tangible Personal Property is also assessed annually at fair market value as of December 31st. It is divided into two parts: Furniture, Fixtures, and Equipment are taxed at the commercial rate; Retail Inventory is taxed at a different retail inventory rate. Tangible Personal Property assessments are appealed using the same appeals form found on the forms page.
New businesses must file with the Assessor's Office; identifying ownership and mailing addresses. They must also declare the value of their Furniture, Fixtures and Equipment as well as their Inventory. New business owners should register with the City Clerk and file a new business form with the Assessor's Office.
The City and State offer a number of personal exemptions.