Town to launch statistical property revals in July

The town is preparing to launch a statistical revaluation to make sure that local property values remain equitable and up to date with the current real estate market.

The Town Council voted at a recent meeting to approve a $169,000 contract Vision Government Solutions for their bid on the statistical revaluation work.  The firm, which is headquartered in Hudson, MA, was the sole bidder.

“The statistical revaluation process proposed by Vison will be instrumental in ensuring that the real property assessments in Johnston are both fair and up-to date, reflecting the current market conditions and helping the town maintain a sound tax base,” Tax Assessor Valerie Laurito wrote in an informational memo to the Council. “Their experience with municipal governments and commitment to customer service makes them uniquely qualified to handle this task for our community.”

In Rhode Island, cities and towns are required to conducted full property revaluations every nine years, with statistical revaluations in between at three-year intervals.

The difference between a full revaluation and a statistical update is that a full revaluation typically involves the full physical inspection – interior and exterior – of every property in a municipality and requires access to all properties and buildings.  Statistical revaluations, on the other hand, are slightly less extensive.

A statistical revaluation uses data – including recent property sales records – to determine new property assessments for homes and business.  It also involves physically inspecting some properties that been sold recently. Laurito said Vision Appraisal’s field work will also include photographing some properties. 

She said that the town’s last revaluation project was a full revaluation conducted in 2022 for the 2023 tax year.

Work on the new statistical revaluation will start in July and we be completed at the end of December of this year, according to Laurito.  The new assessments will be mailed to residents after that and would be applied to tax bills mailed in 2026.

In recommending that the Vision bid be accepted, Laurito stated, “Vision Government Solutions has consistently demonstrated a strong track record of delivering accurate, timely, and reliable statistical revaluations in communities across the state. Their team of professionals is highly knowledgeable in property assessment and familiar with our town.”

In memo to the Town Council also notes that “Vision has consistently worked well with our department offering support throughout the process in the past. They are committed to ensuring that all - whether property owners or municipal officials - are well informed in the final valuation results.”

As stated on many municipal websites in Rhode Island, revaluations are intended to ensure that property tax burden in a community is distributed equitably based on accurate property values.

Communities also note that residents should not assume that their tax bills will go up due to a revaluation.  The amount a property owner pays in taxes depends on their property value and the tax rate in any given year.  Typically, when property values increase, the tax rate drops – depending on how much money a city or town needs to raise in that year.

So, three key factors that determine what a property owner might pay in taxes in a given year are: What the local municipal budget is for that particular year, the tax rate, and the assessed value of a person’s property.