Here and nationally, a revaluation is supposed to be a “sales ratio study”, which is a statistical analysis, the input for which are properties which have been sold and their sale prices over the prior time period. The output is a report. The reason for the sale (hotness or coldness of the market, etc ) is not a factor. It just looks at sold properties and their characteristics. This is then extrapolated onto all other properties, if statistical limits are satisfied. This is my understanding. In prior years this study was conducted by a single company for several (all?) RI towns. Do not rely on me or the Beacon. The process needs to be fully explained by the city, and the reports publicly posted.
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