Though assessments are not yet certified and the numbers could change, the collective value of all taxable homes and land in Little Compton has risen by nearly $600 million, under a recent statistical revaluation completed for the Town of Little Compton.

Assessors from Vision Government Solutions spent months recalculating the assessed value of every property in town as part of the recent revaluation, which is required by the state every three years. Overall, the average property’s assessment rose by about 20 percent, bringing the town’s tax base — the collective value of all properties — from approximately $2.7 billion to $3.291 billion.

While some types of homes and certain areas’ assessments rose more than others, Little Compton tax assessor Denise Cosgrove said the usual suspects appeared to rise the most this year — “There’s a lot of neighborhoods that saw increases,” she said. “Some went higher (than 20 percent), some went less. All along the water, it always goes up. You can’t help that.”

So far, Cosgrove has received about 71 appeal/review requests from property owners, and owners have until next Thursday, April 10, to contest or review their new assessment.

Residents should be careful to not compute their resulting tax bill using the current rate — as the tax base rises, the tax rate is expected to fall correspondingly. Currently, the current $5.08 tax rate per $1,000 is projected to fall to $4.41, assuming no new town spending this coming year.

So assuming no new spending, homes whose values rose at about the average will likely see a similar tax bill next year (see sidebar for examples).

Reval by the numbers

Following is a sampling of homes and land across Little Compton, all of which are currently for sale or are under contract. The numbers show the current tax bill, as well as the potential bill following the recent revaluation.

420 Long Highway

For sale: $1.46 million
Prior assessment: $487,600
New assessment: $947,200
Last year’s tax bill: $2,477
Projected tax bill*:$4,177

For sale: $1.46 million
Prior assessment: $487,600
New assessment: $947,200
Last year’s tax bill: $2,477
Projected tax bill*:  $4,177

141 South of Commons Road
For sale: $550,000
Prior assessment: $345,200
New assessment: $420,700
Last year’s tax bill: $1,753
Projected tax bill*: $1,855

17 Ferolbink Way

For sale: $5.8 million
Prior assessment: $3,767 million
New assessment: $3.897 million
Last year’s tax bill: $19,796
Projected tax bill*: $17,146

61 West Main Road
.61 acre lot
For sale: $565,000
Prior assessment: $227,000
New assessment: $286,600
Last year’s tax bill: $1,153
Projected tax bill*: $1,263

14 East View Drive
For sale: $825,000
Prior assessment: $429,700
New assessment: $498,300
Last year’s tax bill: $2,182
Projected tax bill*: $2,197