Charlestown, Rhode Island Property Taxes
The median property tax rate in Charlestown, RI is 0.57%, considerably lower than both the national median of 0.99% and the Rhode Island state median of 1.48%. With the median home value in Charlestown at $547,400, the typical annual property tax bill reaches $3,146, exceeding the national median of $2,690. Property taxes in Charlestown 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 Charlestown'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 Charlestown 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
Charlestown, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$3,120
Ownwell’s Charlestown Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Charlestown with just two data points. By entering your property's assessed value, the calculator applies the median tax rate in Charlestown 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 Charlestown, Rhode Island
Property taxes in Charlestown, Rhode Island, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlestown is 0.57%, significantly lower than both the Rhode Island state median and the U.S. national median of 0.99%. Local government entities within Charlestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlestown 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 Charlestown's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the 02813 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Charlestown provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlestown Tax Rate
0.57%
Average Washington County Tax Rate
1.10%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlestown, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02813 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Charlestown, Rhode Island
In Charlestown, 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 Washington 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 Charlestown, 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 Charlestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Charlestown's median home price is $547,400. The 25th percentile tax bill is $2,328, while the 75th percentile tax bill is $4,867, and the 90th percentile tax bill is $8,447. The highest and lowest median tax bills are both $3,146 in zip code 02813.
Property Tax Assessment Values Across Charlestown, Rhode Island
Source: Ownwell
$136,250
$657,225
$1,178,200
Average Charlestown Assessed Value
$547,400
Average Washington County Assessed Value
$428,800
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlestown, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02813 | $297,600 | $405,525 | $547,400 | $844,125 | $1,460,570 |
Source: Ownwell
Property Tax Bills Across Charlestown, Rhode Island
In Charlestown, Washington County, RI, property tax bills are calculated based on the assessed value of a home. The local government assesses the value of each property to determine its market worth. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $547,400, homeowners can expect varying tax bills. The 25th percentile tax bill is around $2,328, while the 75th percentile reaches up to $4,867, and the 90th percentile can go as high as $8,447. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. The highest and lowest median tax bills in the area are both recorded at $3,146, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Charlestown's tax rates can significantly impact homeowners, making it crucial for them to understand how their tax bill is determined and budget accordingly.
Average Charlestown Tax Bill
$3,146
Average Washington County Tax Bill
$4,838
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlestown, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02813 | $1,708 | $2,328 | $3,146 | $4,867 | $8,447 |
Source: Ownwell