|
1.Overview of a Revaluation
2. What is Fair Market Value
3.When will someone visit my property
4. When will I know my new assessment
5. Who is conducting the Revaluation?
6. How can I get more information
7. Will all properties be reassessed, including those that were subject to recent appeal proceedings?
Overview of a Revaluation
- A Revaluation is the process of equalizing property assessments for the purpose of fair distribution of property tax. The revaluation takes place in three phases, beginning with the data collection phase where field personnel visit each property in the city to gather property characteristics and building measurements. Market analysis is phase two, where the current market and recent property sales are analyzed to determine the current fair market value of properties. The final phase is when the property owners are notified of the new tax assessments and given the opportunity to review and/or appeal the assessment.
TOP
What is Fair Market Value
- Fair market value is a legal standard defined by the courts as the price established between a willing buyer and a willing seller, taking into consideration the uses to which the property is adapted.
TOP
When will someone visit my property
- The revaluation will being with the data collection phase in early November 2005. The data collection effort will continue into the summer of 2006. Before data collectors begin working in a particular area a letter will be mailed to each property owner stating the data collection will be taking place. During this phase, data collectors will visit each property. They will take exterior measurements of all structures on the property and will attempt to do an inspection of the interior of the buildings to gather data necessary to accurately determine value. If a property owner is unavailable at the time the data collector visits the property, a notification will be mailed to the property owner requesting they schedule an appointment for an interior inspection. The property owner has the right to deny the inspection, however if an interior inspection is not allowed, the interior information must be estimated. Property owners can visit the Property Search section of this site to see the current information on file for their property.
TOP
When will I know my new assessment
- Once all data is collected and all market analysis is complete new assessments will be mailed to property owners. This is expected sometime in late winter of 2007. At that time the property data section of this site will be updated with all data and assessments. The assessment notice will explain what a property owner can do if they have questions or wish to appeal the new assessed value.
TOP
Who is conducting the Revaluation?
- The City of Warwick contracted with the Tyler Technologies, Inc. Assessment and Tax Division | CLT to perform the reassessment. Tyler’s CLT Division is the nation’s largest provider of mass appraisal and property tax software and reassessment outsourcing services. Since its founding in 1938 as the Cole Layer Trumble Company, the Division has provided appraisal outsourcing services and property tax administration software to more than 2,500 assessing jurisdictions in the United States and Canada.
TOP
How can I get more information
- For information on the revaluation Tyler | CLT can be contacted by e-mail at reval.clt@warwickri.com or by phone at 401.737.2568. For information on current taxes, exemptions or any other non-revaluation topic please contact the Warwick Assessor’s Office at 401.738.2000 extension 6016.
TOP
Will all properties be reassessed, including those that were subject to recent appeal proceedings?
- Yes. The fact that a property owner may have recently had an assessment changed through an appeal proceeding does not impact the reassessment.
TOP
Last Updated: 6/8/2009
Data Copyright City of Warwick [Disclaimer][Privacy Statement] |