12/27/2024
📣📣📣 Newport property owners that are eligible for the City's Resident Tax Rate should have begun receiving letters in the mail encouraging them to renew or apply for the popular money-saving program.
But before you rush down to City Hall, please note that the application period doesn't begin until JANUARY 2ND and runs through MARCH 15TH!
So if you're scrambling to get your application in before the new year, there's no need to stress. In fact, our Tax Assessor's office is not able to accept any applications until the program window opens and our online forms won't be active until Jan. 2nd.
As a reminder, approved applications that are received within the application period, which runs from Jan. 2nd until March 15th, 2025, will be valid for the next three (3) tax years – 2025, 2026 and 2027.
The program, which was first adopted in 2022, is intended to encourage year-round residency for both property owners and renters alike.
🔹In order to qualify 🔹
✅Owners of single-family homes must be a Resident of Newport and domicile at the subject property for more than seven (7) months of the year.
✅ Residential properties of three units or less may also qualify provided that all units are rented to tenants as their principal residence pursuant to a lease of one year or longer. Applications must be accompanied by a valid and current lease, even if previously submitted.
Landlords of residential properties of three units or less who rent to year-round residents are also eligible to take advantage of the Resident Property Rate, which this year was set at $6.97 per thousand for Residents and $8.22 per thousand for Non-Residents. Both of those rates are among the lowest in the State, and the lowest among Cities and Towns with full utilities and a K-12 school district.
Note that landlords are required to keep current 12-month leases on file with the tax assessor’s office to maintain a valid exemption.
It's also important to remember that the property for which the owner-occupied residential tax rate is claimed must be legally titled in the name of the applicant; the Trustee of a Revocable or Irrevocable living trust with the applicant residing at the property and paying the taxes; or in Applicant(s) as life tenants who have an obligation to pay the taxes and applicant resides at the subject property.
Applications must be accompanied by acceptable proof of residency, such as a valid Rhode Island Driver’s License/ID that lists the subject property as your address or current Voter Registration Card.
More information about the program can be found on the City’s website at
www.CityofNewport.com/ResidentRate