40 OVERFIELD ROAD

Tax history graph
  • 2024 Assessed Value (adjusted for exemptions): $316,700
  • 2024 Real Estate Taxes (from tax roll): $6,919.90
  • map-platt-lot-unit: 064-006-040-0000
  • RE Class: ONE FAMI

Disclaimer: The following projections have been obtained based on the 8/15/2023 Debt Schedule and the 8/15/2023 Tax Levy Impact documents published by the town finance department, which was the best information available on the date they were published.

It is expected that these projections will need to be revised as final details on the debt service become available and actual operating expenses replace replace their projections.

Please defer to official town finance department projections in the event of discrepancies.

Projected Tax Bills 2024-2040

Year20242025202620272028202920302031203220332034203520362037203820392040
Approved$6,919$7,085$7,259$7,682$8,155$7,900$8,738$9,083$9,123$9,254$9,460$9,603$9,748$10,058$9,989$10,152$10,450
Rejected$6,919$7,035$7,150$7,344$7,644$7,735$7,862$8,149$8,327$8,483$8,707$8,873$9,042$9,364$9,321$9,506$9,845
Delta$0$50$109$338$511$165$876$935$795$771$754$730$706$694$668$646$605
Notes:
  • Based on the data in the 8/15/2023 Debt Schedule and the 8/15/2023 Tax Levy Impact documents and utilizing the same assumptions.
  • No projections for tax rates or assessed values are given because there are thousands of tax rate/valuation combinations that produce the same tax bills as the ones the town chose to present.
  • For a given projected residential levy and base year, it follows from the way projections were calculated that the tax bills are determined by three ratios measuring the growth in the total property value relative to the average growth in individual properties:
  • The three growth ratios are:
    • The ratio in full revaluation years (2025 and 2034): (1.05/1.04) or 1.00961538
    • The ratio in statistical revaluation years (2028, 2031, 2037, and 2040): (1.02/1.016) or 1.003937
    • The ratio in non-revaluation years (all others): (1.01/1.005) or 1.004975
  • There are scenarios in which property values quadruple between 2024 and 2040, and scenarios in which they fall by 80% that produce exactly the same tax bills. You can assume any growth rate for individual houses and as long as you preserve the three growth ratios the tax bills wont change.

Tax Bill History

YearMunicipalFire DistrictTotalTax RateFD RateValuationAdjusted ValuationRE ClassDivisor
1992$1,867.44$176.96$2,044.40$24.80$2.35$83,300$75,300ONE FAMI7675.72
1993$304.80$30.60$335.40$25.40$2.55$20,000$12,000ONE FAMI48892.93
1994$535.00$51.60$586.60$26.75$2.58$20,000$20,000ONE FAMI29628.60
1995$557.60$58.20$615.80$27.88$2.91$20,000$20,000ONE FAMI30047.16
1996$2,758.97$286.31$3,045.28$28.62$2.97$96,400$96,400ONE FAMI6374.49
1997$2,748.82$281.71$3,030.53$22.15$2.27$124,100$124,100ONE FAMI6691.85
1998$2,839.41$290.39$3,129.80$22.88$2.34$124,100$124,100ONE FAMI6782.19
1999$2,941.17$281.71$3,222.88$23.70$2.27$124,100$124,100ONE FAMI6939.51
2000$3,082.64$296.60$3,379.24$24.84$2.39$124,100$124,100ONE FAMI7054.08
2001$3,324.64$294.12$3,618.76$26.79$2.37$124,100$124,100ONE FAMI7228.38
2002$3,790.87$320.14$4,111.01$27.59$2.33$137,400$137,400ONE FAMI6670.51
2003$3,789.49$338.00$4,127.49$27.58$2.46$137,400$137,400ONE FAMI6853.06
2004$4,319.97$388.14$4,708.11$17.14$1.54$252,040$252,040ONE FAMI6515.77
2005$4,514.04$423.43$4,937.47$17.91$1.68$252,040$252,040ONE FAMI6624.62
2006$4,619.89$491.48$5,111.37$18.33$1.95$252,040$252,040ONE FAMI6818.64
2007$4,560.93$500.07$5,061.00$12.86$1.41$354,660$354,660ONE FAMI7111.44
2008$4,802.10$517.80$5,319.90$13.54$1.46$354,660$354,660ONE FAMI7301.53
2009$4,965.24$542.63$5,507.87$14.00$1.53$354,660$354,660ONE FAMI7475.00
2010$5,204.99$538.02$5,743.01$16.64$1.72$312,800$312,800ONE FAMI7323.22
2011$5,395.80$544.27$5,940.07$17.25$1.74$312,800$312,800ONE FAMI7460.16
2012$5,470.87$556.78$6,027.65$17.49$1.78$312,800$312,800ONE FAMI7354.95
2013$5,727.82$597.24$6,325.06$20.14$2.10$284,400$284,400ONE FAMI7199.67
2014$6,512.76$0.00$6,512.76$22.90$0.00$284,400$284,400ONE FAMI7407.50
2015$6,615.14$0.00$6,615.14$23.26$0.00$284,400$284,400ONE FAMI7494.62
2016$6,128.38$0.00$6,128.38$23.68$0.00$258,800$258,800ONE FAMI8392.60
2017$6,234.49$0.00$6,234.49$24.09$0.00$258,800$258,800ONE FAMI8473.61
2018$6,123.21$0.00$6,123.21$23.66$0.00$258,800$258,800ONE FAMI8501.39
2019$6,164.00$0.00$6,164.00$23.00$0.00$268,000$268,000ONE FAMI8467.95
2020$6,220.28$0.00$6,220.28$23.21$0.00$268,000$268,000ONE FAMI7235.25
2021$6,279.24$0.00$6,279.24$23.43$0.00$268,000$268,000ONE FAMI7271.73
2022$6,653.87$0.00$6,653.87$21.01$0.00$316,700$316,700ONE FAMI6952.08
2023$6,783.71$0.00$6,783.71$21.42$0.00$316,700$316,700ONE FAMI7011.67
2024$6,919.90$0.00$6,919.90$21.85$0.00$316,700$316,700ONE FAMI7050.82
Notes:
  • Based on tax rolls 1992-2024 obtained via Access to Public Records requests.
  • Tax rolls are updated over time. If there is a discrepancy, refer to the current official tax roll.
  • The adjusted valuation is the assessed value that produces the actual tax bill, reduced for exemptions, at the stated tax rate.
  • Fire district taxes were obtained from tax rolls if they were present (2008,2009,2010,2012,2013).
  • Fire district taxes were computed using the fire district rate and adjusted valuation for other years. After 2013 there is no separate fire district tax.
  • The fraction of the total adjusted property value that this propertys value represents is one divided by the Divisor column.
  • Divide any town-wide expenditure by the Divisor column to get the share paid for by this property.

Expenses that are the Same Regardless of the Bond Status

Expense202320242025202620272028202920302031203220332034203520362037203820392040
Municipal General Fund$1,814.87$1,923.69$1,966.98$2,010.73$2,069.29$2,157.64$2,204.23$2,251.74$2,336.97$2,391.05$2,438.63$2,511.74$2,561.92$2,613.12$2,708.41$2,750.59$2,806.03$2,906.84
School Department$4,398.32$4,414.88$4,514.22$4,614.63$4,749.02$4,951.80$5,058.72$5,167.74$5,363.36$5,487.46$5,596.67$5,764.44$5,879.62$5,997.12$6,215.81$6,312.61$6,439.84$6,671.21
Free Library$62.02$62.60$62.15$61.68$61.63$62.39$61.88$61.37$61.84$61.43$60.83$60.82$60.23$59.65$60.02$59.18$58.61$58.95
Municipal $2.0M Road and Bridge Revolving Fund 2015 5/14/2015$27.40$26.87$26.44               
Municipal $5.0M Road and Bridge Revolving Fund 2017 5/30/2017$37.70$36.94$36.64$36.30$36.26$36.64$36.32$36.04$36.30$36.02$35.69$35.67$35.27$34.94$35.13   
Municipal $2.7M GOB 2020 7/30/2020$46.37$44.95$44.14$43.34$42.83$42.88            
Municipal $.450M Direct Purchase - Open Space 11/1/2023$1.08$7.05$6.89$6.62$6.40$6.27$6.00$5.95$5.57$5.32$4.90       
School $10.635M RIHEBC School Bonds - Repair & Rehab 12/2/2010$144.08$141.15$140.12$139.06$138.95$140.66$139.51           
School $.785M GOB 2020 - School Capital Equipment ($5M School Bond) 7/30/2020$13.85$13.43$13.19$12.95$12.79$12.81            
School $29.665M RIHEBC Refunding 2020 10/22/2020$289.22$281.82$230.94$229.13$229.00$232.14$230.03$228.25$229.84$228.36$225.90$225.93$224.02$221.27$223.34   
School $.356M Direct Purchase School Capital Equipment ($5M School Bond) 11/1/2022$0.86$5.51$5.43$5.22$5.05$4.94$4.73$4.69$4.39$4.19$4.13       
School $.197M Taxable Direct Purchase School Bonds - $52M Deficit 11/1/2022$0.62$5.55$5.27$4.99$4.74$4.55            
School $.202M Direct Purchase School Bonds - $52M Deficit 11/1/2022$0.48$3.13$3.02$2.90$2.81$2.75$2.63$2.52$2.44$2.33$2.53       
School $1.474M Direct Purchase School Bonds ($5M School Bond) 11/1/2022$3.49$22.74$22.21$21.36$20.65$20.21$19.35$18.51$17.96$17.16$16.01       
School $2.405 School Bonds ($5M Remaining) 2024  $24.41$23.13$22.58$22.33$21.62$20.92$20.55$19.89$19.18$18.66$17.96$17.28$16.88$16.14$15.48$15.07
Total$6,840.36$6,990.31$7,102.05$7,212.04$7,402.00$7,698.01$7,785.02$7,797.73$8,079.22$8,253.21$8,404.47$8,617.26$8,779.02$8,943.38$9,259.59$9,138.52$9,319.96$9,652.07
Notes:
  • These numbers represent the contribution to funding that expenditure from the taxes on this property.
  • They are obtained by dividing the expense listed on the town exhibits by the appropriate Divisor column value.
  • Long story short, your share of any expenditure is the same as your share of the assessed property value.

Expenses Paid Only When the Bond is Approved

Expense202320242025202620272028202920302031203220332034203520362037203820392040
Municipal Road Maintenance $4,000,000 2025  $45.24$43.86$42.79$42.27$40.89$38.98$38.26$36.99$35.63$34.62$33.29$31.99$31.20$29.79$28.54 
Municipal Highway Facility $12,000,000 2026   $59.13$116.85$115.63$112.05$108.51$106.71$103.38$99.77$97.18$93.67$90.22$88.23$84.47$81.16$79.12
School Option C - Phase 1 $72,115,000 Principal Deferred 2yr 2026    $167.04$338.65$652.81$634.88$627.05$610.29$591.84$579.37$561.40$543.72$534.83$515.22$498.29$489.08
School Option C - Phase 2 $66,705,000 Principal Deferred 1yr 2027      $309.76$598.12$590.96$575.38$558.20$546.66$529.92$513.46$505.30$487.00$471.24$462.77
Debt Service Less School Housing Aid$-161.17$-151.80$-146.19$-144.44$-143.91$-145.37$-887.39$-724.65$-660.30$-644.23$-626.15$-609.21$-592.15$-575.08$-567.74$-471.68$-456.25$-447.92
Debt Service Less Federal Credit for Qualified School Bond$-63.13$-61.85$-61.40$-60.94$-60.89$-61.64$-61.13           
Debt ServiceLess Draw/Add from/to Reserve $-0.03    $-214.24$104.44$114.61         
Overlay-97.9% (2023)$148.60$142.31$145.73$149.30$158.00$167.74$162.49$179.72$186.83$187.64$190.34$194.58$197.51$200.50$206.88$205.45$208.80$214.94
Total$-75.70$-71.37$-16.62$46.91$279.88$457.28$115.24$940.00$1,004.12$869.45$849.63$843.20$823.64$804.81$798.70$850.25$831.78$797.99
Notes:
  • These numbers represent the contribution to funding that expenditure from the taxes on this property.
  • They are obtained by dividing the expense listed on the town exhibits by the appropriate Divisor column value.
  • Long story short, your share of any expenditure is the same as your share of the assessed property value.

Expenses Paid Only When the Bond is Rejected

Expense202320242025202620272028202920302031203220332034203520362037203820392040
Debt Service Less School Housing Aid$-161.17$-151.80$-146.19$-144.44$-143.91$-145.37$-143.68$-93.69$-93.92$-92.89$-91.38$-85.61$-84.69$-83.49$-84.08$-5.65$-5.42$-5.27
School Debt Service Less Federal Credit for Qualified$-63.13$-61.85$-61.40$-60.94$-60.89$-61.64$-61.13           
Debt Service Less Draw/Add from/to Reserve $-0.03$-4.19$-4.16$-4.16$-4.21$-4.17$-4.14$-4.17$-4.14$-4.10$-4.10$-4.06$-4.02$-4.05$-3.99$-3.95$-3.98
Overlay-97.9% (2023)$148.60$142.31$144.70$147.05$151.05$157.22$159.10$161.70$167.60$171.28$174.49$179.08$182.50$185.97$192.60$191.71$195.52$202.50
Total$-75.70$-71.37$-67.08$-62.49$-57.91$-54.00$-49.88$63.87$69.51$74.25$79.01$89.37$93.75$98.46$104.47$182.07$186.15$193.25
Notes:
  • These numbers represent the contribution to funding that expenditure from the taxes on this property.
  • They are obtained by dividing the expense listed on the town exhibits by the appropriate Divisor column value.
  • Long story short, your share of any expenditure is the same as your share of the assessed property value.