Coventry, Rhode Island Property Taxes
The median property tax rate in Coventry, RI is 1.53%, considerably higher than both the national median of 0.99% and the Rhode Island state median of 1.48%. With the median home value in Coventry, the typical annual property tax bill reaches $4,760, exceeding the national median of $2,690. Property taxes in Coventry 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 Coventry'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 Coventry 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
Coventry, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$4,748
Ownwell’s Coventry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coventry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coventry 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 Coventry, Rhode Island
Property taxes in Coventry, Rhode Island, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Coventry is 1.53%, significantly higher than the U.S. national median of 0.99%. Local government entities within Coventry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coventry 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 Coventry's effective property tax rate to other areas in Rhode Island and the national median. For comparison, the 02827 zip code has the highest median property tax rate of 1.53%, while the 02816 zip code has the lowest median tax rate of 1.53%. Understanding how these areas compare with Coventry provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coventry Tax Rate
1.53%
Average Kent County Tax Rate
1.42%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coventry, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02816 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
| 02827 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Coventry, Rhode Island
In Coventry, Rhode Island, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kent County 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 Coventry, 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. For example, the highest median tax bill in Coventry is $8,732 in the 02827 zip code, while the lowest median tax bill is $4,760 in the 02816 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Coventry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coventry Assessed Value
$310,300
Average Kent County Assessed Value
$303,600
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coventry, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02816 | $182,420 | $254,700 | $310,300 | $397,225 | $485,600 |
| 02827 | $569,600 | $569,600 | $569,600 | $569,600 | $569,600 |
Source: Ownwell
Property Tax Bills Across Coventry, Rhode Island
In Coventry, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the property tax rate set by Kent County. This rate, compared to the national median property tax rate of 0.99%, significantly impacts the final tax bill. For example, with a median home price of $310,300, Coventry homeowners face varying tax bills. At the 25th percentile, the tax bill is around $3,906, while it rises to $6,092 at the 75th percentile. Those in the 90th percentile can see tax bills as high as $7,445. The highest median tax bill in the area reaches $8,732 in the 02827 zip code, while the lowest is $4,760 in the 02816 zip code. These property taxes fund essential community services such as schools, public safety, and infrastructure. Consequently, the amount a homeowner pays can significantly affect their overall cost of living and financial planning.
Average Coventry Tax Bill
$4,760
Average Kent County Tax Bill
$4,657
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Coventry, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02816 | $2,809 | $3,906 | $4,760 | $6,092 | $7,444 |
| 02827 | $8,732 | $8,732 | $8,732 | $8,732 | $8,732 |
Source: Ownwell