Property Tax Lawyers in Providence
The law of Providence, 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 adhered to the land, like trees and natural resources.
Property taxes in Providence, Rhode Island are determined as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (usually 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 Providence, Rhode Island
Normally, Providence, Rhode Island property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they usually run from less than 1% up to about 5%.
In order to levy this tax, the tax authorities in Providence, 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.
Thus, the people in charge of appraising the value of property in Providence, Rhode Island have to consider only objective, factual criteria when calculating the value of a piece of land. These criteria include the state of the real estate market, the zoning of the land (which determines how it can be used), and any improvements that have been made to the land, among other things.
How A Providence, Rhode Island Property Tax Attorney Can Help.
The system of levying property taxes in Providence, Rhode Island can get fairly difficult. Disputes about property taxes, between the taxpayer and the tax authorities, can come up in many different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Furthermore, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If one of these contentions affects you and your property in Providence, Rhode Island, you should make every effort to properly handle it. This can prevent small issues from growing into large ones. The best way to do this is to seek the advice of a brilliant Providence, Rhode Island tax attorney who specializes in property tax law.