If you own property in Newport or Middletown, RI, you probably know that 2012 is a revaluation year. That means Newport and Middletown’s tax assessors are about to revise your valuation based on comparable sales and other market indicators. You might agree with their opinion of value, but just in case you don’t, you should file a Ratable Tax Form now.
To protect your right to appeal your new assessment, you must file a Ratable Tax Form with your town hall by Tuesday, January 30, 2012. The form provides your opinion of your property’s value and insures your legal standing should you decide to appeal. With legal standing you have the right to sue for a reduction. Without it, you can only make the request, and your legal position is significantly diminished.
The Ratable Tax form is a state form, but it is available at Middletown and Newport town halls. It must be completed, signed, notarized and filed at the town hall by the January 30th deadline.
You will be notified of your new valuation in March, and you’ll be ready for anything if you get that form in by Tuesday!