Warwick, Rhode Island Property Taxes
The median property tax rate in Warwick, RI is 1.42%, notably higher than the national median of 0.99% but slightly below the Rhode Island state median of 1.48%. With a median home value of $301,300 in Warwick, the typical annual property tax bill amounts to $4,275, significantly exceeding the national median of $2,690. Property taxes in Warwick are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences. Understanding Warwick's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Warwick or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Warwick, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$4,278
Ownwell’s Warwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warwick 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 Kent County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Warwick, Rhode Island
Property taxes in Warwick, Rhode Island, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warwick is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Warwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warwick 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 Warwick's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the 02886 zip code has the highest median property tax rate of 1.42%, while the 02888 zip code has the lowest median tax rate of 1.42%. Understanding how these cities compare with Warwick 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 Warwick Tax Rate
1.42%
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 Warwick, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02886 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
| 02888 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
| 02889 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Warwick, Rhode Island
In Warwick, 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 Warwick, 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. Being aware of these valuation processes in Warwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,339 in zip code 02886, while the lowest median tax bill is $4,243 in zip code 02889.
Average Warwick Assessed Value
$301,300
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 Warwick, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02886 | $234,300 | $269,600 | $305,800 | $373,700 | $506,040 |
| 02888 | $225,950 | $262,700 | $299,200 | $348,800 | $413,150 |
| 02889 | $224,200 | $263,500 | $299,000 | $343,500 | $427,000 |
Source: Ownwell
Property Tax Bills Across Warwick, Rhode Island
In Warwick, located in Kent County, RI, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors and reflects the market value of the property. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements or additions made to the home. For homeowners in Warwick, the median home price stands at $301,300. The tax bills can vary significantly, with the 25th percentile at $3,769 and the 75th percentile at $5,020. The highest median tax bill recorded in the area is $4,339 in the 02886 zip code, while the lowest is $4,243 in the 02889 zip code. These figures show that property taxes in Warwick can be higher than the national median property tax rate of 0.99%, impacting homeowners' annual expenses and overall cost of living.
Average Warwick Tax Bill
$4,275
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 Warwick, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02886 | $3,325 | $3,826 | $4,339 | $5,303 | $7,182 |
| 02888 | $3,207 | $3,729 | $4,246 | $4,949 | $5,862 |
| 02889 | $3,181 | $3,739 | $4,243 | $4,874 | $6,059 |
Source: Ownwell