REAL ESTATE TAX SAVINGS IN RHODE ISLAND

Everyone complains about real estate taxes. With the increase in municipal assessments of property values, followed by a decline in property values and foreclosures, the number of people disputing these recently declared property values is most definitely on the rise. But do you really have to pay all of your real estate taxes? The answer is NO! Well, that is, if you live in one of the following communities and you occupy the property as your primary residence:

Rhode Island Communities Offering a Homestead Tax Exemption:

- Central Falls
- East Providence
- Lincoln
- North Providence
- Providence
- West Greenwich
- Woonsocket


For more information about the Homestead Tax Exemption (a discount of property taxes up to 50%), please contact your local Tax Assessor or Tax Collector office in the Town or City Hall.

Why do communities offer these tax exemptions? One of the major concerns that gave rise to the homestead exemption was that landlords (2 and 3 family homes) are more likely to listen to the concerns of their tenants if they occupied their property as a primary residence (and less likely to operate as a slumlord). Whether you're living up to your reputation as "landlord of the year" or not (the exemption applies to single family homes too!), the homestead tax exemption is a no-brainer!!

For more information on disputing the recent assessment of property values and taxes, here are some examples on the web:

Taxes and the Providence Place Mall

A SAMPLE Property Tax Dispute Form – Charlestown, RI


As a real estate attorney, I am always available for consultation if you need help with any issue involving property (whether residential or commercial).




Interested in Real Estate? Any questions? Give me a call at 401.921.5114, extension 17.

Richard M. Bianculli Jr., Esq.*
Martinelli, Caputi & Associates, Ltd.
171 Service Ave, Bldg 2, Suite 302A
Warwick, RI 02886
401.921.5114 (x 17)
401.921.5134 (fax)
E-mail me at rbianculli@mclawri.com
*Admitted in Rhode Island and Massachusetts

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9 Comments on Property Taxes: Paying Too Much for Real Estate Taxes in Rhode Island?

FEB
01
2008
158,138 Points 17 Featured Posts Outside Blog Called Shot Master

Rich, This is a really good localism post.

Bill Roberts
6:43pm • #1
FEB
02
2008
 Bill:  Thanks!  I hope visitors can benefit from this information! 
6:34pm • #2
878,577 Points 75 Featured Posts Outside Blog Attended Rain Camp Called Shot Master
Rich - AHHH good work my friend. Hopefully you will get a few folks reading this that will take advantage of it :)
7:38pm • #3
MAY
02
2008
1,072,306 Points 70 Featured Posts Outside Blog Attended Rain Camp
Hi Richard, almost anyone can relate to taxes...we just had a dual homestead exemption passed in the state of Michigan...so sellers that have purchased, moved and not sold can qualify for the homestead on both homes if they file by May 1.  Nice post.
5:12pm • #4
JUN
10
2008

Hi,

I've owned my home in Providence for a little over 2 years.  I was shocked when I received our tax bill and it was over $8,000.  We did not apply for the Homestead before March 15 because we did not know about it.  What can we do?  This tax is on a home assesed at $409,000.

Thanks
Provres
12:23pm • #5

Provres:  I would download the Declaration of Homestead  application form right now and print it out.  Fill out the form completely and bring it to the Tax Assessor.  They will be able to answer any questions you may have in regard to deadlines and past taxes.  I doubt that you will be able to recoup back taxes (the Homestead Tax Exemption is only granted to those who have applied) but you do want to get this application on the record as soon as possible.  I'm glad you are now aware of this wonderful tax benefit. 
1:37pm • #6
JUL
27
2009

Johnston and Pawtucket also offer exemptions. Great info!
8:36am • #7
FEB
13
2012

no relief for those in Warwick, RI?
5:34pm • #8

So there's no relief in Warwick, RI? or Cranston, RI?
Marie
5:36pm • #9


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Martinelli Caputi & Associates, Ltd.

Warwick, RI

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Martinelli Caputi & Associates, Ltd.

Address: 171 Service Avenue, Building 2, Suite 302A, Warwick, RI, 02886

Office Phone: (401) 921-5114 x 17

Email Me

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