Pascoag, Rhode Island Property Taxes
The median property tax rate in Pascoag, RI is 1.44%, which is considerably higher than the national median of 0.99% but slightly lower than the Rhode Island state median of 1.48%. With the median home value in Pascoag at $309,757, the typical annual property tax bill reaches $4,457, significantly exceeding the national median of $2,690. Property taxes in Pascoag are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pascoag'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 Pascoag 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
Pascoag, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$4,461
Ownwell’s Pascoag Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pascoag with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pascoag 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 Pascoag, Rhode Island
Property taxes in Pascoag, Rhode Island, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pascoag is 1.44%, significantly higher than both the Rhode Island state median and the U.S. national median of 0.99%. Local government entities within Pascoag set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pascoag 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 Pascoag's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the 02859 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Pascoag provides valuable insights into the varying tax landscape across Providence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pascoag Tax Rate
1.44%
Average Providence County Tax Rate
1.71%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pascoag, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02859 | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Pascoag, Rhode Island
In Pascoag, 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 Providence 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 Pascoag, 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 Pascoag helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Pascoag's median home price stands at $309,757, with tax bills ranging from $3,799 at the 25th percentile to $6,713 at the 90th percentile. The highest and lowest median tax bills are both $4,457 in the zip code 02859.
Average Pascoag Assessed Value
$309,757
Average Providence County Assessed Value
$293,200
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pascoag, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02859 | $221,320 | $264,000 | $309,757 | $375,700 | $466,520 |
Source: Ownwell
Property Tax Bills Across Pascoag, Rhode Island
In Pascoag, located in Providence County, RI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $309,757, homeowners in Pascoag can expect varying tax bills. The tax bill at the 25th percentile is $3,799, while at the 75th percentile, it rises to $5,406, and at the 90th percentile, it reaches $6,713. These tax bills are influenced by several factors, including property size, location, and any improvements made to the home. For homeowners, understanding these factors is crucial as they directly impact the financial obligations tied to property ownership. Compared to the national median property tax rate of 0.99%, Pascoag's property taxes can be notably higher, reflecting the local economic conditions and funding requirements for community services.
Average Pascoag Tax Bill
$4,457
Average Providence County Tax Bill
$4,934
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Pascoag, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02859 | $3,185 | $3,799 | $4,457 | $5,406 | $6,713 |
Source: Ownwell