To continue from the last post, I thought I would take the same example, this time from Trulia.com to see if the Property taxes East Side Providence RI reported were accurate from the national website versus what should be reflected in MLS. Again, Trulia.com doubles the taxes. Most single family homes on the East Side of Providence are owner-occupied, making the tax rate HALF of what is stated in the national site. Property taxes on the East Side of Providence are $30.38 per thousand of assessed value but if you live in the house, you qualify for a tax exemption which brings the rate to $15.19 per thousand of assessed value.
How misleading. It’s as if they took they 80/20 rule and decided to make the results on 20/80 instead. I would venture a guess that less than 20% of the single family homes on the East Side of Providence are taxed at the full rate. So if a buyer new to the area looks at Zillow.com or Trulia.com to get their information, they are likely to have a coronary when they look at the taxes! Most single family houses on the East Side of Providence DO have the homestead exemption, so please keep this in mind when calculating your overall monthly payments. To be fair, the taxes in our city are high compared to most, but what Trulia.com and Zillow.com are showing are truly off the charts.