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HOPKINTON â€” In a town-wide full revaluation, Hopkintonâ€™s property values were reduced by an average of 10.5 percent. Letters with updated property values were mailed to all town residents on April 9.
Rhode Island law mandates property valuation updates every three years to determine the fair market value of all real estate. Full revaluations are required every nine years and include inspection and remeasuring the interior and exterior of properties. Statistical valuations are performed every three years.
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