Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 40 - Division of Municipal Finance
Subchapter 00 - N/A
Part 2 - Rules and Regulations for the Implementation of the Triennial Updates and Revaluations to Commence in the Year 2000 (280-RICR-40-00-2)
Section 280-RICR-40-00-2.11 - Data Analysis
Universal Citation: 280 RI Code of Rules 40 00 2.11
Current through September 18, 2024
A. Depending on the valuation system and methods utilized, the assessor should collect sufficient cost and market data:
1. Current cost data
from firms like Marshall - Swift, etc., and local building costs where
available
2. Current sales data,
including any information obtainable which could influence the accuracy and
validity of these sales.
3. Current
income, expense and vacancy data, which may be obtained from questionnaires or
by interviews with lessees, lessors or agents.
4. Data relative to the development of
capitalization rates, financing terms, recapture rates, yield requirements and
local debt coverage ratios.
B. Some of the data analysis methods discussed above require the full cooperation of the general public (not mandated by law) so it is unknown at this time whether those methods can or will be utilized by the assessor. The collection and maintenance of current and accurate property inventory data is critical to the development of uniform, fair market values.
C. The best time to begin such a program is immediately after a comprehensive city/town wide revaluation (full measure and list) has been completed.
Disclaimer: These regulations may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
