Barrington property owners will soon receive mail from the town notifying them of the new property values resulting from the latest revaluation.

Property owners who have questions or concerns regarding their new assessment should contact the town’s revaluation consultant, Northeast Revaluation Company, at (401) 737-0300. The company can meet with property owners by appointment.

Property owners should be aware that the new assessed values for their property are likely to be significantly higher than the old values, as real estate values have risen substantially since the last revaluation three years ago. 

However, the tax rate will be adjusted accordingly as part of the budget process.

State law dictates that the town cannot increase the amount of money raised by property taxes (the tax levy) by more than 4 percent, unless town voters approve an override of the cap. 

“This State-mandated revaluation is designed to ensure tax assessments remain fair and accurate, based on the past two years of sales data within Barrington. It is not an opportunity for the town to increase the tax levy; the purpose of a revaluation is to adjust and refine property values,” stated a press release from the town.

Northeast Revaluation has detailed information on individual properties available through its website, www.nereval.com (search for Barrington). This information will be updated with the new data to coincide with the mailing of the notices. Historical property sales data can be looked up now under “Search Sales.”

According to Barrington Tax Assessor James Drew, the overall increase in assessed values for residential properties in Barrington will be higher than the increase in commercial values. This shift, however, will be small compared to other cities and towns because commercial property in Barrington’s comprises a small percentage of the tax levy.

Please note that personal tax exemptions will not be included in the notice. Income-based exemption notices will be mailed in April