R.I. Gen. Laws § 44-5-11.5 — Legislative findings — Revaluation cycle

It is found and declared that:
(1) Rhode Island property taxes continue to play a significant role in the financing of
local educational and municipal services. The general assembly recognizes that the
way the property tax is assessed, levied and collected can be improved to provide
more reliable and up-to-date property values in each of the cities and towns.
(2) The state’s ten (10) year property revaluation cycle is the longest revaluation cycle
in the country. Infrequent revaluations translate into disparities in property tax
burden between types and classes of property within and among cities and towns. In
addition, because each city and town represents multiple systems and procedures for
administering the property tax, there is an inconsistent administration of property
tax law and regulations.
(3) It is the intent of the general assembly to ensure that all taxpayers in Rhode Island
are treated equitably. The more frequent the revaluation, the greater the equity within
and among jurisdictions. Ensuring that taxpayers are treated fairly begins with modernizing
the administration of the property tax that ensures:
(i) Up-to-date property values are maintained through more frequent property revaluations;
(ii) Cities and towns meet defined standards related to performing updates of property
values;
(iii) The state shares in the cost of performing updates of property values in the cities
and towns;
(iv) A meaningful and effective method of ensuring that cities and towns comply with the
nine (9) year revaluation cycle and the updates of property values are developed;
(v) Procedures for administering the property tax are standardized — such as general reporting
and classification systems;
(vi) Assessors and contracted property revaluation companies meet appropriate qualifications
and standards; and
(vii) Intergovernmental cooperation in the administration of the property tax is maximized.
(4) With these findings in mind, it is the intent of the general assembly to institute
a revaluation cycle where every city or town conducts a revaluation within nine (9)
years of the date of the prior revaluation and shall conduct an update of real property
every three (3) years from the date of the last revaluation.