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-40-00-2.13 - Public Disclosure
Universal Citation: 280 RI Code of Rules 40 00 2.13
Current through September 18, 2024
A. Commercial and Industrial property should be reviewed and analyzed very carefully. If possible at least 2 of the 3 approaches to value should be developed:
1. Cost - The application of a cost trending
multiplier (from Marshall- Swift, etc.) may be considered for updating building
and site values with proper allowances given for depreciation.
2. Current sales data, including any
information obtainable which could influence the accuracy and validity of these
sales.
a. Notification The assessor should
provide notice of a property valuation update program to all taxpayers by a
comprehensive public information plan. This information plan could use the news
media, the local cable access programs and public meetings in
general.
b. Review The assessor
should provide adequate opportunity for taxpayers to inquire about their
proposed new values. The taxpayer should be afforded the ability to review
their property record information. The assessor must provide adequate
opportunity prior to finalizing valuations and tax billing, either during or
after regular office hours for taxpayer inquiries regarding the proposed new
values. An appropriate appeal process must be available for the
taxpayer
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.
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