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

By
Services for Real Estate Pros with Martinelli Caputi & Associates, Ltd.

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

CONTACT a Rhode Island Real Estate Attorney NOW!

Rhode Island Real Estate and Environmental Law Concerns
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Rhode Island
Groups:
Rhode Island Real Estate
Rhode Island Real Estate Resource
Resources of Rhode Island
Tags:
ri
rhode island
real estate
property
taxes
assessments
abatements
values
foreclosures
municipal
assessors
collectors
communities
providence

Spam prevention
Show All Comments
Rainmaker
719,239
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Rich, This is a really good localism post.

Bill Roberts

Feb 01, 2008 10:43 AM #1
Rainer
29,076
Martinelli Caputi
Martinelli Caputi & Associates, Ltd. - Warwick, RI
& Associates, Ltd.
Bill:  Thanks!  I hope visitors can benefit from this information! 
Feb 02, 2008 10:34 AM #2
Rainmaker
1,088,649
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate
Rich - AHHH good work my friend. Hopefully you will get a few folks reading this that will take advantage of it :)
Feb 02, 2008 11:38 AM #3
Rainmaker
1,074,139
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
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.
May 02, 2008 10:12 AM #4
Anonymous
Provres

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

Jun 10, 2008 05:23 AM #5
Rainer
29,076
Martinelli Caputi
Martinelli Caputi & Associates, Ltd. - Warwick, RI
& Associates, Ltd.

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. 

Jun 10, 2008 06:37 AM #6
Rainer
15,350
Jessica DeCastro
Williams & Stuart Real Estate - Cranston, RI

Johnston and Pawtucket also offer exemptions. Great info!

Jul 27, 2009 01:36 AM #7
Anonymous
Anonymous

no relief for those in Warwick, RI?

Feb 13, 2012 09:34 AM #8
Anonymous
Marie

So there's no relief in Warwick, RI? or Cranston, RI?

Feb 13, 2012 09:36 AM #9
Anonymous
Barbara
Do you know about Coventry? Any relief here?
Mar 28, 2014 03:23 AM #10
Anonymous
Mike

I am 100% positive that johnston offers homestead and this is not on the list.... This is not accurate information provided here

Jan 09, 2015 11:37 PM #11
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
29,076

Martinelli Caputi

& Associates, Ltd.
Ask me a question
*
*
*
*

Additional Information