Property Taxes in Rhode Island
The median Rhode Island property tax rate is 1.48%, significantly higher than the national median of 0.99%. With a median home value of $326,800, the median Rhode Island property tax bill is $4,920 a year. Compared to the national median annual property tax bill of $3,269, this is much higher. Property taxes in Rhode Island are calculated based on the assessed value, which typically falls below the actual market value due to property tax exemptions, such as the primary residence or agriculture exemption. Understanding your county's specific property tax system, exploring property tax exemptions, and recognizing opportunities for property tax reductions can lead to significant annual tax savings. Whether you're in Providence, Warwick, Cranston, or any other Rhode Island locale, familiarizing yourself with the property taxes in your location can benefit homeowners and investors alike.
Last Updated June 14, 2024
Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$4,837
$4,488
Ownwell’s Rhode Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rhode Island with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Rhode Island to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a county or city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Rhode Island
Property taxes in Rhode Island fund essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rhode Island is 1.48% compared to the national median property tax rate of 0.99%. The tax rate is set by local government entities, and it can vary widely between different areas within Rhode Island. Put simply, each county estimates its required budget to provide services for the upcoming year, and then divides that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, that is the process followed each year. Compare a Rhode Island county’s effective property tax rate to other counties in Rhode Island or the US median property tax rate below. Providence County has the highest property tax rate in Rhode Island at 1.71%. Washington County has the lowest property tax rate in Rhode Island at 1.10%.
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rhode Island
| County | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | 1.34% | 1.34% | 1.37% | 2.03% | 2.03% |
| Kent | 1.42% | 1.42% | 1.42% | 1.83% | 2.18% |
| Newport | 0.70% | 0.99% | 1.26% | 1.28% | 1.49% |
| Providence | 1.37% | 1.48% | 1.71% | 1.89% | 2.28% |
| Washington | 0.60% | 0.93% | 1.10% | 1.43% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Rhode Island
When examining property taxes in Rhode Island, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by factors such as location, property condition, and economic market trends. Market value is estimated by each Rhode Island county assessor for tax purposes. The assessed value is then the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes, or the amount multiplied by your tax rate to get your tax bill. Assessment notices in Rhode Island are sent in the spring each year. They should reach your mailbox typically by the end of April. Each property owner receives an assessment notice that contains both the market value and assessed value along with an estimate of your property tax bill. By providing insights into how assessed values and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Rhode Island. Bristol County has the highest median tax bill at $6,020, while Kent County has the lowest at $4,657.
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rhode Island
| County | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | $274,520 | $324,000 | $394,000 | $515,000 | $715,000 |
| Kent | $211,200 | $258,100 | $303,600 | $378,600 | $495,900 |
| Newport | $234,200 | $328,400 | $457,350 | $655,300 | $993,990 |
| Providence | $196,700 | $235,200 | $293,200 | $373,525 | $498,300 |
| Washington | $247,100 | $323,800 | $428,800 | $600,500 | $921,190 |
Source: Ownwell
Property Tax Bills Across Rhode Island
In Rhode Island, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Factors such as property location, market conditions, and home improvements can influence the assessed value. Homeowners in Rhode Island face varying tax bills depending on their county. For instance, Bristol County has the highest median tax bill at $6,020, while Kent County has the lowest at $4,657. The median home price in the state is $326,800, which, when compared to the national median property tax rate of 0.99%, underscores Rhode Island's relatively high property tax rates. The tax bill at the 25th percentile is $3,975, while at the 75th percentile, it rises to $6,424, and at the 90th percentile, it reaches $8,918. These differences highlight the significant impact that property taxes can have on homeowners' finances, making it crucial to understand and manage these costs effectively.
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Rhode Island
| County | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | $3,904 | $4,713 | $6,020 | $8,567 | $12,951 |
| Kent | $3,287 | $3,932 | $4,657 | $6,074 | $8,522 |
| Newport | $2,726 | $3,778 | $5,041 | $7,118 | $10,471 |
| Providence | $3,463 | $4,091 | $4,934 | $6,180 | $8,153 |
| Washington | $2,440 | $3,451 | $4,838 | $6,678 | $9,567 |
Source: Ownwell