I’m a big fan of Zillow.com. When it comes to tax calculations however in Providence RI and where assessed values are high, like here on the East Side of Providence, Zillow.com can be very misleading. Take the case in point from two of our listings on the East Side. I nearly choked on my morning coffee when I pulled up this page. Since these are our listings, and OUR sellers I know that the taxes are HALF the amount than Zillow.com has recorded. I would think twice about moving to Providence if I saw this. OH MY!
In Providence, we have what is called a HOMESTEAD exemption that reduces the tax rate in HALF if the owner lives in the property. Since both of our sellers live in their properties as owner-occupants, I know that the taxes are incorrect. They should be half the amount that Zillow.com has shown. BIG DIFFERENCE!
The trouble is that Zillow.com and Trulia.com for that matter treat the tax field as a “calculated” field not one that is a “feed” through the Multiple Listing Service. So Zillow.com simply plugs in the Providence Tax rate which is $30.38 per thousand of assessed property value and takes if from there, with no accounting for the Homestead exemption which most single family homes on the East Side have. So tread carefully with Zillow.com when it comes to taxes in Providence!