The Official Web Site of the town of Tiverton, Rhode Island
Tax Assessor
David Robert, RICA - Tax Assessor assessor@tiverton.ri.gov
Judy Rogers, Supervising Clerk
Leona Cook, Clerk
Office: 401-625-6709
David Robert is a Professional Member of:
Rhode Island Association of Assessing Officers
Massachusetts Association of Assessing Officers
Northeast Association of Assessing Officers
International Association of Assessing Officers
Society of Professional Assessors
The Urban and Regional Informational Systems Association (GIS)
The Tax Assessor's Office is responsible for assigning and maintaining the valuation on Real Property, Tangible Property and Motor Vehicles.
REAL PROPERTY: We estimate the fair market value (FMV) to all real estate as of the effective date of the latest revaluation date. Per Rhode Island General Law, the Town is required to revaluate property assessments once every three years. Current assessments are based on the estimated FMV as of 12/31/2020. Your assessment is based on sale activity of buyers and sellers over the past 12 - 18 months. Factors considered include location, style of home, quality of construction, square footage, condition, and added features such as garages, decks, etc.
TANGIBLE PROPERTY: Per Rhode Island General Law 44-5-12 and 44-5-12.1, business assets are annually assessed based on the original cost of the asset and depreciated according to the proper table established in 44-5-12.1. All business are required to report assets owned on December 31st to the Assessor's office annually by the following January 31st. An estimate assessment is placed on those businesses that fail to report their assets.
MOTOR VEHICLES: All vehicles registered in the Town are assessed an excise tax based on the N.A.D.A. book value and the number of days owned. The excise tax is based on the registration of the prior year. Therefore, a tax bill recieved in the current year covers the registration of the vehicle from the previous year.
Additional information for Tangible Property and Motor Vehicle assessments can be found by clicking on the specific links above. Detailed Real Estate assessment information follows below.
GENERAL REAL ESTATE ASSESSMENT INFORMATION:
Video explaining the role of the Tax Assessor.
PLEASE NOTE VIDEO IS TEMPORARILY UNAVAILABLE.
Per Rhode Island State Statute 44-5-15, all property owners are required to provide their local Tax Assessor an annual listing of all ratable (taxable) real estate owned. Please see below for full details.
Annual Declaration of Ratable Estate - (Account Filing)
TAX ASSESSMENT DATA
Property Owners are encouraged to review their assessment data on-line to ensure accuracy. Please bring any concerns/data errors to the attention of the Tax Assessor's staff by calling 401-625-6709.
Assessment Data Base - 2021 Assessments (Estimated Fair Market Value as of 12/31/2020)
Please note that the current database is hosted by Northeast Revaluation Group, LLC, not Vision Government Solutions.
Online Property/GIS Map Viewer (Our GIS vendor Main Street GIS)
2021 ASSESSMENT APPEALS (Real Estate and Tangible Property only): To appeal your property assessment, you must file an appeal with the Tax Assessor’s Office within 90 days from September 1st in accordance with R.I.G.L. 44-5-26. Appeal forms will be available in the Tax Assessor’s Office starting the week of August 16th. You will be asked to provide your opinion of value and any supporting documentation including appraisals, home inspection reports, comparable properties, etc.
LATEST ASSESSMENT & REAL ESTATE MARKET NEWS:
Warwick, R.I. – July 14, 2021 -- The Rhode Island Association of Realtors released June sales statistics today which portray another double-digit, year-over-year increase in price. At $385,000, June’s median sales price of single-family homes represents a 24.6 percent gain since June of last year and a 5.5 percent gain from the previous month.
The number of days a home stayed on the market fell by 50 percent from June 2020 to just 27 days, one more indication of a frenzied market characterized by strong buyer demand and insufficient inventory.
The inventory of single-family homes for sale regained its footing last month after experiencing a significant dip in the prior month, though the supply remained 31 percent lower than that reported in June 2020. The latest data shows that inventory would deplete in 1.7- months at June’s rate of sales, the highest level since November of last year. In May, RI Realtors reported less than a one-month supply of single-family homes for sale, approximately five months short of the supply typically characterized by a balanced market.
While sales activity increased 19.4 percent compared to 12 months earlier, a more telling indicator is the comparison to 2019, the year closings were unaffected by the economic shutdown. June sales in 2021 represented a 1.9 percent increase compared to the same period two years earlier.
Among condominium sales, the median sales price increased 20 percent to $300,000, from $250,000 year-over-year. Sales activity grew 103 percent. The days a condo stayed on the market fell to 40 days from 60 and the listings available for sale fell by 38.2 percent.
Multifamily homes also saw a sharp increase in price and sales. June’s median sales price of $365,000 represented a 21.7 percent increase from 12 months earlier. Like the condominium market, closing activity more than doubled, increasing by 104 percent. Listings increased by 14.4 percent.
“Low interest rates coupled with the historically low supply of homes available for sale are causing homes to sell more quickly and for more money than ever before. There needs to be some relief in sight, particularly for first-time homebuyers who are finding nearly impossible to compete with buyers with top tier credit and cash. We’re hopeful that the slight uptick we saw in inventory in June continues, as more people become comfortable with putting their homes on the market,” said Leann D’Ettore, president of the Rhode Island Association of Realtors.
RI Realtors reported a 36.8 percent annual gain in total sales activity among all property types combined- single-family and multifamily homes and condominiums. Properties sold for one million dollars or more however, grew by 242.32 percent. When compared to 2019, the last June unaffected by COVID, Rhode Island sales at all price levels rose 10.5 percent and those of one million or more rose 217.9 percent.
TIVERTON: June 2020 Median Value of Home = $365,000. In June 2021 = $452,500, an increase of 25%!
Warwick, RI – January 15, 2021 — For obvious reasons, 2020 was one for the record books and housing sales certainly stood out among them. With more single-family home sales than ever before, Rhode Island’s housing market soared despite a worldwide pandemic and historically low inventory levels. Sales statistics released today by the Rhode Island Association of Realtors, point to a single-family home market which saw a year over year gain of 5.1 percent in closed transactions and an increase of 12.3 percent in median price.
At the same time, an already low supply of homes for sale at the beginning of the year dwindled further, falling from 2.6 months of inventory in January to 1.4 months in December. With a six-month supply typically touted by industry experts as a market balanced between supply and demand, the inventory shortage led to fierce competition among buyers. Demand was fueled by historically low interest rates and the desire for newly sought-after amenities, thanks to the coronavirus.
“Today’s buyers are vastly different than those we were dealing with a year ago. They’re looking for more space, home offices and a lower cost of living – all thanks to the ability to work remotely,” said Leann D’Ettore, president of the Rhode Island Association of Realtors.
Median price gains also prevailed in other sectors of the market, rising 14.8 percent from 2019 to 2020 among multifamily home sales, and 6.4 percent among condominium sales. Sales activity however, dropped slightly in those two sectors, falling 4.2 percent among multifamily homes and 1.7 percent among condominiums, both of which offer less private, outdoor space than single-family homes, a highly desirable feature due to COVID-19.
Housing shored up the economy in 2020
“This year has been a wild ride. When COVID hit, Realtors quickly had to figure out a new way to serve their clients and we had no idea what was in store. Looking back, I’m amazed at how quickly we adapted to keep up with the unprecedented demand. The housing market is a huge economic driver, so it was critical that we navigated what was going on quickly in order to keep feeding that economic engine,” said Leann D’ Ettore, President of the Rhode Island Association of Realtors.
According to a 2019 Economic Impact report by the National Association of Realtors, the latest available, the real estate industry accounted for $11.6 billion in Rhode Island or 18.2 percent of the gross state product in 2019. Given more sales in 2020 than 2019, Rhode Island’s housing market played an important role in buoying the local economy through a tumultuous year.
Out-of-state buyers feed demand
Out-of-state buyers added to the demand in Rhode Island’s housing market as urban dwellers and those suddenly able to work remotely flocked to lower cost, yet desirable areas. Coastal locations were a big draw, as were properties with more space and home offices.
In an analysis of out-of-state buyers of Rhode Island residential properties in 2019 versus 2020, Massachusetts, Connecticut and New York sent the most buyers to the Ocean State, with the percentage of buyers from New York rising 61 percent from year to year and 32 percent from Massachusetts. Connecticut was one of the few states which sent fewer buyers to Rhode Island last year.
The percentage of out-of-state buyers rose most dramatically in the luxury market. New York buyers of Rhode Island properties sold from $1 million and more increased 200 percent from 2019. Buyers in the same price bracket from Connecticut increased 50 percent year over year and Massachusetts buyers increased 32.5 percent.
“At a time when many people were suddenly able to purchase their dream properties because they weren’t tethered to their location by their jobs, Rhode Island had mass appeal. Our lower cost of housing, open space and coastal location, all within a few hours driving distance of New York and Boston, attracted an unprecedented number of high-end buyers,” said D’Ettore.
The analyses of overall and luxury sales by out-of-state buyers examined only the second, third and fourth quarters of 2019 and 2010, in order to measure the difference in the timeframe affected by the pandemic.
All sales data was provided by the State-Wide Multiple Listing Service, a subsidiary of the Rhode Island Association of Realtors and reflects all property sales transactions conducted by Realtors through its listing exchange service.
Strong Real Estate Market despite COVID
Warwick, R.I. – September 16, 2020 – The Rhode Island Association of Realtors reported a double-digit increase in the median sales price of single-family homes in August, marking the 43rd consecutive month in which the median price of monthly sales rose or stayed the same from the previous year. At $333,164, the median price in August represented a jump of 12.9 percent from August of 2019. While median price represents the mid-point of all sales, not appreciation or depreciation of specific homes, it does reflect the trend in the market overall.
Sales activity also increased from last year, rising 7.2 percent, worsening an already substantial shortage of homes on the market. The number of homes listed for sale has fallen year-over-year for the past 16 months. In August of 2019, 3676 single-family homes were on the market. Only 2122 were listed in August of this year, a drop of 42.3 percent.
“The activity in the housing market has been remarkable, particularly in light of what we’ve been going through with the pandemic this year. We’re seeing so much pent-up demand and there doesn’t seem to be an end in sight. Homes put under contract in August that haven’t closed yet are up by 25 percent from a year ago. That’s an indication that demand isn’t waning. We desperately need a larger supply of homes for sale to accommodate the number of buyers out there,” said Shannon Buss, President of the Rhode Island Association of Realtors.
Out-of-State Buyers a Growing Influence in Summer Months
Adding to the demand are purchases by out-of-state buyers. In an analysis of July and August property sales measuring buyers from Massachusetts, Connecticut and New York, the top states behind Rhode Island for buyers of Ocean State property, Massachusetts increased 31.5 percent from the same time period in the previous year. Buyers from New York increased 48.9 percent. Together, home buyers from those two states accounted for 15.3 percent of all buyers in 2020, up from 11.7 percent of all buyers in July and August of 2019. Conversely, buyers from Connecticut decreased from the summer of 2019 to 2020.
Tiverton has seen an increase in market value of over 11% from last August (2019).
TAX RATES
Please note that the Tax Assessor does not establish the tax rate. The tax rate is established by simply dividing the voted upon budget by the residents, into the total assessed value of the town.
EX: FTR BUDGET/TOTAL VALUE OF TOWN=TAX RATE
Further information on Tax Rates can be found on the Tax Collector's PAGE.
Quick Stats*:
Number of Real Estate Parcels: 8,400
Number of Residential Condominiums/Mobile Homes: 610
Number of Tax Exempt Parcels (Town, School, State, etc.): 340
Number of Farmland, Forestland, and Open Space parcels: 185
Single Family Parcels: 5,165
Vacant Land Parcels: 850
Total Motor Vehicles registered in Tiverton: 21,450
Total Business Accounts (Tangible Property): 600
Total Business Accounts based in Tiverton: 520
* Approximate Counts as of 12/31/2020
Median Sale Price of Single Family Homes in Tiverton - Year by Year Comparison
Rhode Island Housing Statistics (Link to RILIVING.COM)