Thursday, January 17, 2019        

Businesses

All Smithfield businesses are assessed a Tangible Tax each year. This assessment is based on the business personal property (furniture, fixtures, equipment, etc.) that is situated in the Town of Smithfield as of December 31st each year.

Rhode Island General Law 44-5-15 requires every business to file an annual declaration of business personal property to the Assessor by January 31st of each year, reporting the personal property present on the preceding December 31st.

Example:

On December 31, 2018, you are in possession* of business personal property in Smithfield.

By January 31, 2019, you are required to file a Declaration of Business Personal Property to the Smithfield Assessor, reporting the property present on December 31, 2018.

This personal property is assessed for the 2019 Tangible Tax Bill, issued in July of 2019.

*Includes owned, leased, loaned, and borrowed property. Property must be declared even if the business is not yet or no longer operational.

All businesses are required to submit this declaration. The purpose is to ensure that each business is assessed fairly and equitably. Failure to file this declaration may result in an estimated assessed value and will forfeit the right to appeal. Failure to file a declaration by the due date will result in the addition of estimated annual growth to the assessed value.

Annual Declaration of Business Personal Property – Due January 31st 

Click here for the Annual Declaration of Business Personal Property. This is a fillable PDF form that will assist you in calculating the declared personal property value for your business. The form may be completed, signed, and saved electronically and submitted via email to the Smithfield Assessor. dmanlove@smithfieldri.com 

All businesses are required to submit this declaration. If you are unsure of how to properly complete this form, please click here for step-by-step instructions. You may also contact the Assessor’s Office for assistance.

Business Removal Request

If your business has sold, dissolved, or moved out of the Town of Smithfield, please complete and submit a Business Removal Request Form. You will not be removed from the tangible tax roll unless you have notified the Assessor before January 31stClick here for Business Removal Request form. 

A Guide to Starting a Business in Smithfield 

Please use this guide as reference as you set up operations for your new business. As always, we welcome you to contact Town Hall if you have any questions. Click here to download A Guide to Starting a Business in Smithfield.

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