News

Jul 11, 2013

Taxes


NORTH SMITHFIELD – 91% of residents and business owners will see a decrease in their tax bills this year. “As a result of sound fiscal management and increased tangible taxes received by the Town, we are pleased to announce that most will see their tax bills lowered” stated Paulette D. Hamilton, Town Administrator.

Category: News Room
Posted by: Craig

NORTH SMITHFIELD – 91% of residents and business owners will see a decrease in their tax bills this year. “As a result of sound fiscal management and increased tangible taxes received by the Town, we are pleased to announce that most will see their tax bills lowered” stated Paulette D. Hamilton, Town Administrator.

The town recently completed a revaluation of all residential and commercial properties. Even with a slight increase in the tax rate, 91% of property owners will be paying less in taxes. Less than 10% of properties will see an increase in value. This number includes those who have updgraded their property, made significant renovations and/ or put on an addition.

To provide motor vehicle tax relief, the vehicle tax exemption has been  increased from $500.00 to $675.00

The town of North Smithfield has a fully funded pension obligation and continues to see increased economic growth, with several projects  slated to begin construction this year. “New businesses find the town very attractive. Our goal is to promote with smart growth to increase our tax base and to provide excellent services to those who call North Smithfield ‘home’ ” stated Hamilton.

Bills are scheduled to be sent out this week and residents are asked to mail payments to reduce waiting in line at the tax collector’s office. Taxes are due August 15th.

Here is the comparison for the tax rates for 2013.

RESIDENTIAL               $15.25 (FY2013)                          $15.86 (FY 2014)

COMMERCIAL            $17.55 (FY2013)                            $17.57 (FY 2014)

TANGIBLE                    $42.85 (FY2013)                            $42.75 (FY 2014