Newport net tax valuationis $739,559,511, up 65.947%
NEWPORT -- A report listing preliminary assessment values of Newport property prepared by Avitar
Association was released by Finance Director Paul Brown at a meeting of the Newport Board of
Selectmen Monday night.
Individual assessments were sent to Newport property owners by Avitar. "Sales prior to the April 1st
assessment date are relied upon to establish new base land and building rates with the goal of bringing all assessments to 100 percent of fair market value," the Avitar report stated.
Property owners were informed if they feel an error exists and would like to schedule a phone
appointment to review their assessment or to contact Avitar with specific questions, may go to the Avitar
website at www.avitarassociates.com/appointments for details.
Please note that you can compare your new assessment by multiplying $19.73 and comparing that
amount to your final tax bill (December) from 2021. This amount will not be the 2022 bill amount as
there were changes in spending voted at the Town and School District meetings which will be included
in the new tax rate. The newly established values will be implemented on the December bill.
Preliminary revaluation assessments reveal the net tax valuation is $739,559,511, up 65.947 percent
from the unadjusted valuation of $445,661,393 on April 1, 2022.
Residential property and buildings preliminary valuation came in at $541,627,700, up 80.953 percent
over the April 1 figure of $299,320,000.
Commercial/Industrial valuation totaled $183,439,700, up 41.734 percent of $129,425,400 on April 1.
The property and buildings of utilities saw a rise of only 1.323 percent going from $19,065,700 on April
1 to $19,318,000 in the preliminary value column.
Adjustments were made for the blind/elderly Exempt/Solar/Wind property totaling ($1,822,040)
compared to ($1,820,350) on April or 0.93 percent and Bald Mtn TIF District Value Retained,
($4,912,399) in the preliminary valuation column compared to ($1,994,455) on April 1, up 146.303
percent.