Property Valuation
A Rhode Island assessor revalues all properties in the city every five years. This process is called:
ATax lien certification
BStatistical revaluation
CA cyclical tax assessment update or revaluation✓ Correct
DFee simple conversion
Explanation
Rhode Island law requires municipalities to conduct periodic revaluations (typically every 3 years for a statistical update and every 9 years for a full physical revaluation) to keep assessments in line with current market values.
Related Rhode Island Property Valuation Questions
- The cost approach to value is particularly useful for valuing:
- What is 'economic life' in Rhode Island appraisal?
- The income approach to value is most appropriate for valuing:
- A Rhode Island appraiser makes a 'negative' adjustment to a comparable sale. This means:
- Effective age refers to:
- What is 'market rent' in Rhode Island as distinct from 'contract rent'?
- Paired sales analysis is used by appraisers to:
- A Rhode Island appraiser uses the 'income approach' to value a property. This approach is most appropriate for:
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