Cranston Home, Business Reevaluations Coming To Residents Soon: Mayor

CRANSTON, RI — Mayor Ken Hopkins said Monday that notices for the recently completed citywide property revaluation will soon be sent to Cranston resident from the city hired revaluation company.

"Over the next several days, property owners will be receiving their new property revaluation assessments in their mailboxes," Hopkins said.

Vision Appraisal, the city’s hired revaluation and appraisal company, completed the state mandated revaluation in consultation with the Cranston tax assessor’s office. The new values for residential, commercial, and industrial properties should reflect fair market values as of Dec. 31, 2023, Hopkins said.

Hopkins said the revaluation company completed an extensive physical inspection and review of all city properties. He said various assessing techniques were employed, including review of recent sales and replacement cost estimates.

"I know that a revaluation causes homeowner concerns, but I ordered the tax assessor and Vision Appraisal to give taxpayers ample opportunity to discuss their new property values," Hopkins said. "The initial review, if there are questions, will be overseen informally with the taxpayer and Vision Appraisal representatives."

The mayor said taxpayers should first review the notices to make sure the data collected is accurate. Property assessment information for the entire city will be available online for taxpayers to review comparable properties or homes in their neighborhood. Following the informal review, if desired, taxpayers will be able to file formal appeals with the Cranston Tax Assessment Board of Review.

"We have all witnessed extraordinary increases in home selling prices over the last several years that must be reflected in the new values as of Dec. 31, 2023," Hopkins said. "The bottom line for every taxpayer is how much taxes will they have to pay."

Hopkins said taxpayers should not use the current tax rate to try and determine their new tax bill. The city’s total assessed taxable property base is expected to increase reflecting the new values.

"A new and lower tax rate will be determined through the ongoing budget process that will start on April 1 with my budget submission to the city council," Hopkins said. "With the help of my finance team, we are carefully reviewing departmental requests and their budget needs, including Cranston schools."

The mayor said he will introduce his proposed operating and capital budget for the 2025 fiscal year, on or before April 1, as required by the city charter.

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