Revaluations
Rhode Island General Laws, §44-5-11.5 and Rhode Island General Laws, §44-5-11.6 require revaluations to be conducted every three years.
Under the State’s revaluation guidelines, revaluations are to be preformed every three years by all cities and towns. The revaluation cycle requires a full revaluation every 9 years with two statistical revaluations at 3-year intervals in between that 9-year period. The purpose of the revaluations is to reconcile property assessments to their full and fair cash value as of December 31st of any revaluation year.
Currently all real estate assessments in the Town of South Kingstown are based on the date of the last town-wide statistical revaluation, which was December 31, 2009. As a result, all assessments reflect the market conditions that existed as of December 31, 2009.
Per state law, the effective date of the next town-wide revaluation will be December 31, 2012.