280 R.I. Code R. 280-RICR-40-00-2.11

Current through December 26, 2024
Section 280-RICR-40-00-2.11 - Data Analysis
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.

280 R.I. Code R. 280-RICR-40-00-2.11