Warren, Rhode Island Property Taxes
The median property tax rate in Warren, RI is 1.37%, higher than both the national median of 0.99% and the Rhode Island state median of 1.48%. With the median home value in Warren at $385,350, the typical annual property tax bill reaches $5,264, exceeding the national median of $2,690. Property taxes in Warren are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Warren's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Warren or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warren, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$5,279
Ownwell’s Warren Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warren with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warren to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Warren, Rhode Island
Property taxes in Warren, Rhode Island, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Warren is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Warren set these rates annually, and they can vary across different neighborhoods. Each year, Warren estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Warren's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the zip code 02885 has both the highest and lowest median property tax rate of 1.37%. Understanding how these cities compare with Warren provides valuable insights into the varying tax landscape across Bristol County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warren Tax Rate
1.37%
Average Bristol County Tax Rate
1.37%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warren, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02885 | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Warren, Rhode Island
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Warren, Rhode Island. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Warren, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest and lowest median tax bills in Warren are both $5,264 in the 02885 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warren Assessed Value
$385,350
Average Bristol County Assessed Value
$394,000
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warren, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02885 | $271,440 | $330,900 | $385,350 | $457,200 | $604,670 |
Source: Ownwell
Property Tax Bills Across Warren, Rhode Island
In Warren, located in Bristol County, RI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's property assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $385,350, property owners in Warren can expect to pay a significant amount in property taxes. The tax bill for the 25th percentile is approximately $4,520, while those in the 75th percentile pay around $6,245. Homeowners at the 90th percentile face even higher bills, reaching up to $8,268. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Warren's property tax bills reflect the town's investment in maintaining and improving its local amenities.
Average Warren Tax Bill
$5,264
Average Bristol County Tax Bill
$6,020
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Warren, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02885 | $3,708 | $4,520 | $5,264 | $6,245 | $8,268 |
Source: Ownwell