[Summit] New Tax Assessment Values for your House.

[Christopher Buecheler]

We got ours. Supposedly our condo has tripled in value over the ten years
we've owned it, and more than doubled since our last assessment. That's 21%
year-over-year growth. Seems juuuust a bit higher than the 3-4%
year-over-year historical norm for real estate appreciation ...

This bubble's going to pop and leave a lot of people underwater like
happened in 2007, with mortgages hundreds of thousands of dollars higher
than what they can actually sell their home for.

-Chris

On Fri, Apr 22, 2022 at 8:26 PM KTC <ktcxyz at cox.net> wrote:

> I didn’t get one. Did they ALL go out?
>
>                      Kim T. Clark
>               RHODYCRAFT.com
>               769 HOPE STREET
>           PROVIDENCE, RI 02906
>                     401.626.1833
>
>
> On Apr 22, 2022, at 7:53 PM, James Kelley <jameskelley4444 at gmail.com>
> wrote:
>
> I believe these were  previously sent in December and the mayor presented
> his budget in February and that gave the city council March, April, and May
> to examine each department before it's budget and tax levy votes. The
> Mayor's April 26 budget presentation will be very interesting and he should
> certainly address property tax assessments and mil rate.
>
> On Fri, Apr 22, 2022, 6:54 PM Ethan Gyles <ethangy at gmail.com> wrote:
>
>> +42% here. Having heard also from another neighbor, it sounds widespread.
>> The city will need to adjust the rates down to keep the total tax burden
>> increase under 4% per state law. What that means for our individual bills
>> can’t be predicted just yet.
>>
>> > On Apr 22, 2022, at 5:05 PM, James Kelley <jameskelley4444 at gmail.com>
>> wrote:
>> >
>> > 
>> > I received my letter today +35%.  I can only hope that the rest of the
>> city saw comparable increase in value percentages.
>> >
>> > It's a little frightening, honestly, for some of us on fixed incomes. I
>> hope that, someday, the state and city will adopt some of the property
>> taxation methods in places such as California and other places to protect
>> long-term owners. B
>> > _______________________________________________
>> > Summit mailing list
>> > Summit at sna.providence.ri.us
>> >
>> http://sna.providence.ri.us/mailman/listinfo/summit_sna.providence.ri.us
>> > SNA Website: http://sna.providence.ri.us/
>>
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>
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-- 
Christopher Buecheler - @cwbuecheler <https://twitter.com/cwbuecheler>
http://cwbuecheler.com | Web, Writing, and More
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