No. Smithfield taxes to go up around $40 per home

No. Smithfield taxes to go up around $40 per home

NORTH SMITHFIELD – Residential taxes in North Smithfield will be going up by around $40 per home this year, with bills to be sent out during the next week.

The 2015 tax rate for residential property will be $16.02 per thousand, up from $15.86 last year, which equals approximately a $40 increase for the average homeowner, based on a $275,000 home.

Commercial rates will also increase, from $17.55 per thousand to $17.77.

The tangible rate is up five cents, from $42.75 to $42.80.

A newsletter sent out by Town Administrator Paulette Hamilton referenced "issues" in the tax assessor's office in announcing the increase. Town officials are currently examining $750,000 plus in abatements announced by Tax Assessor Tammy Boss in June.

"This is needed to maintain the integrity of the town finances and to cover expenses going forward," wrote Hamilton.

"We are certifying our tax roll and will have the data sent for printing of tax bills this week," Hamilton said. "As we uncover issues, we address them immediately. Our next step is to have a forensic audit .Our main focus is to stabilize the assessing issues and provide a level of comfort that can only be found in a complete review. We will not stop until every stone is unturned."