Property Tax Lawyers in Newport
The law of Newport, Rhode Island says that everyone who owns real property has to pay taxes on it. The term "real property" refers to land and buildings, as well as anything attached to the land, like trees and natural resources.
Property taxes in Newport, Rhode Island are measured as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (often yearly) intervals.
Federal authorities do not collect a property tax. Only state and local governments collect property taxes, as a general matter.
How Property Tax is Calculated in Newport, Rhode Island
Typically, Newport, Rhode Island property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they normally run from less than 1% up to about 5%.
In order to levy this tax, the tax authorities in Newport, Rhode Island must have an uniform formula for figuring out the value of a given piece of property.
In some ways, value is a subjective thing. For example, the home in which you grew up is probably worth far more to you than its market value. To get around this, the government uses nothing but objective factors in determining how much a piece of real property is worth.
With that in mind, the land appraisers in Newport, Rhode Island look at various factors, including the state of the local real estate market, the square footage of the house, and the permissible use (zoning) of the land.
How A Newport, Rhode Island Property Tax Attorney Can Help.
Property tax law in Newport, Rhode Island is not always simple. Legal disagreements about property taxes can arise from almost any situation. For instance, you might have reason to suspect that the taxable value of your home was overestimated, creating a bigger property tax bill. And, the government might claim that you have underpaid your property taxes, while you think that you have paid the correct amount.
If you encounter a legal issue with your Newport, Rhode Island property taxes, and don't handle it properly, unnecessary inconvenience and expense can result. If you have the assistance of a skilled tax attorney in Newport, Rhode Island, however, the odds of encountering such a problem will be small.