The revaluation of properties in the North Kingstown & South Kingstown Rhode Island towns have hit the
public and OMG they have actually dropped in 3 years! It just may be that the town appraisal companies for both North Kingstown & South Kingstown see that the sold prices of real estate are down and are reflecting that in the assessed tax values for the town. Not a revelation to most of us. Yes, even waterfront South Kingstown homes for sale are feeling the drop in tax appraisal amounts.
So what is a seller to do they ask me? Well we all need to remember that the towns of North Kingstown and South Kingstown just like Narragansett, Charlestown and Jamestown all survive on their tax revenue to sustain the municipal workings of the towns..it's just that for now- tax assessments are attempting to become more aligned with the market sales. It doesn't mean you should not sell your home now - North Kingstown and South Kingstown homes for sale are all feeling the same tax appraisal decline. The value remains always in the eyes of the buyer to the property being offered for sale.
Yes, there is a relationship to tax assessment to sold price. It does take a number of months after a tax
assessment review to see a relationship between market values to tax values in both North Kingstown and South Kingstown towns. I still believe we are seeing the best prices for the near future in waterfront homes for sale in these towns. Just this weekend I took clients down to the Green Hill area of Green Hill Beach Road in South Kingstown. It is just like a mini exclusive Watch Hill, Rhode Island with simply stunning homes a stone's throw from the Atlantic Ocean and the beach. It's a paradise community and much more reasonable than Watch Hill, RI and Quonochontaug, RI...remember tax appraisals are what they are - tax assessments to fill the towns coffers...Real Estate Revaluations in North Kingstown & South Kingstown, Rhode Island went Down-Not a Big Surprise!
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Ginny Lacey Gorman raised her kids in South Kingstown RI and knows the geographic area, schools, localhappenings, important tidbits of information and businesses well.
If you are looking for someone to guide you through the home buying or selling process, Ginny is a licensed Realtor® and would be happy to assist you. Waterfront, oceanfront and coastal RI homes for sale are her specialty but all of RI is her backyard. So feel free to search for RI homes for sale. When you are in need of more information from an internet savvy Realtor® who sells RI houses in this real estate market, call Ginny at 401.529.7849.
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