Vision Government Solutions, Inc. to use sales and market data to update real estate property values citywide
Friday, March 29, 2019
PROVIDENCE R.I. – The City of Providence today announced that the state-mandated full real estate property revaluation is complete and real estate property value assessment notices will be mailed on April 15, 2019. At this time, the following 2018 real estate revaluation procedures have been executed: Data Collection of Building Data, Building Permit Inspections, Review Analysis of Sales, Cost and Land Analysis, Income & Expense Review, Commercial Market Rate Analysis, and Table Calculations.
Providence property owners will soon receive a notice advising them of the new appraised value of their real estate property prior to when the new value will officially be added to the tax roll. The notice that contains the new appraised value will also explain how to arrange for a personal informal hearing to review the proposed assessment if they so choose. Recipients are asked to follow the instructions on your notice to book an appointment with Vision Government Solutions, Inc. for a hearing on any parcel. Please bring any information to support your request for a change; hearings are by appointment only.
Per RI General Law 44-5-11.6, cities and towns are required to perform a statistical update every third and sixth year and a full property revaluation every nine years. Vision Government Solutions uses recent sales and market data to inform their findings.
Property owners should not use the current tax rates when estimating their 2019 tax bill. Once the notices have been mailed, property owners may view their 2018 Data on the Vision Government Solutions website.