2024 cranston assessors The Cranston Assessor's Office is part of the city's Department of Finance and is responsible for the valuation of all real estate properties, including residential, commercial, and industrial properties. The office maintains a database of all properties in the city, including their ownership, location, size, and other relevant information. The assessors use various methods to determine the value of a property, including the sales comparison approach, the cost approach, and the income approach. The sales comparison approach involves comparing the property being assessed to similar properties that have recently sold in the area. The cost approach involves estimating the cost to replace or reproduce the property, taking into account depreciation. The income approach is used for commercial and industrial properties and involves estimating the property's potential income. The Cranston Assessor's Office also handles property tax exemptions and abatements. Property tax exemptions are reductions in the assessed value of a property for certain groups, such as veterans, the elderly, and disabled individuals. Property tax abatements are reductions in the amount of property tax owed, usually granted to property owners who have made significant improvements to their property.
Copyright 2024 All Right Reserved By.