[Summit] New tax rates for high value property

Sat Apr 30 22:53:40 UTC 2022

Apparently the council president has some ideas for us 💡

https://www.golocalprov.com/politics/Providence-Council-President-Iglioozzi-Is-Looking-to-Tax-The-East-Side-at-a

- Coryndon

On Wed, Apr 27, 2022, 3:52 PM Sue Chartier via Summit <
summit at sna.providence.ri.us> wrote:

> Hello all. I had a meeting this morning at city hall with a rep from
> Northeast Revaluation. I went armed with stats-square footage,# of
> bedrooms,#of baths,garages, and previous assessments, and also a “Zillow”
> guesstimate of value from 16 of my neighbors. My property went up 51%. I
> didn’t get a good answer to what were the parameters they used. He said
> sales data was most of it.  Some bigger houses with multiple baths and
> garages are valued less than mine.  He said they would take my info into
> consideration and I should get a letter in 4-6 weeks.
> I urge more people to go talk to them. This doesn’t seem like an equitable
> way to assess value.
> Happy Spring everyone.
>
> Susan Chartier
>
> On Apr 22, 2022, at 9:17 PM, Christopher Buecheler <cwbuecheler at gmail.com>
> wrote:
>
> 
> We got ours. Supposedly our condo has tripled in value over the ten years
> we've owned it, and more than doubled since our last assessment. That's 21%
> year-over-year growth. Seems juuuust a bit higher than the 3-4%
> year-over-year historical norm for real estate appreciation ...
>
> This bubble's going to pop and leave a lot of people underwater like
> happened in 2007, with mortgages hundreds of thousands of dollars higher
> than what they can actually sell their home for.
>
> -Chris
>
> On Fri, Apr 22, 2022 at 8:26 PM KTC <ktcxyz at cox.net> wrote:
>
>> I didn’t get one. Did they ALL go out?
>>
>>                      Kim T. Clark
>>               RHODYCRAFT.com
>>               769 HOPE STREET
>>           PROVIDENCE, RI 02906
>>                     401.626.1833
>>
>> [image: RC Logo New email.jpg]
>>
>> On Apr 22, 2022, at 7:53 PM, James Kelley <jameskelley4444 at gmail.com>
>> wrote:
>>
>> I believe these were  previously sent in December and the mayor presented
>> his budget in February and that gave the city council March, April, and May
>> to examine each department before it's budget and tax levy votes. The
>> Mayor's April 26 budget presentation will be very interesting and he should
>> certainly address property tax assessments and mil rate.
>>
>> On Fri, Apr 22, 2022, 6:54 PM Ethan Gyles <ethangy at gmail.com> wrote:
>>
>>> +42% here. Having heard also from another neighbor, it sounds
>>> widespread. The city will need to adjust the rates down to keep the total
>>> tax burden increase under 4% per state law. What that means for our
>>> individual bills can’t be predicted just yet.
>>>
>>> > On Apr 22, 2022, at 5:05 PM, James Kelley <jameskelley4444 at gmail.com>
>>> wrote:
>>> >
>>> > 
>>> > I received my letter today +35%.  I can only hope that the rest of the
>>> city saw comparable increase in value percentages.
>>> >
>>> > It's a little frightening, honestly, for some of us on fixed incomes.
>>> I hope that, someday, the state and city will adopt some of the property
>>> taxation methods in places such as California and other places to protect
>>> long-term owners. B
>>> > _______________________________________________
>>> > Summit mailing list
>>> > Summit at sna.providence.ri.us
>>> >
>>> http://sna.providence.ri.us/mailman/listinfo/summit_sna.providence.ri.us
>>> > SNA Website: http://sna.providence.ri.us/
>>>
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>>
>>
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>>
>
>
> --
> Christopher Buecheler - @cwbuecheler <https://twitter.com/cwbuecheler>
> http://cwbuecheler.com | Web, Writing, and More
> _______________________________________________
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>
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>
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