Barrington, Rhode Island Property Taxes
The median property tax rate in Barrington, RI is 2.03%, 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 Barrington at $437,000, the typical annual property tax bill reaches $8,871, far exceeding the national median of $2,690. Property taxes in Barrington 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 Barrington'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 Barrington 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
Barrington, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$8,871
Ownwell’s Barrington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barrington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barrington 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 Barrington, Rhode Island
Property taxes in Barrington, Rhode Island, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Barrington is 2.03%, significantly higher than the U.S. national median of 0.99%. Local government entities within Barrington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barrington 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 Barrington's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the zip code 02806 has both the highest and lowest median property tax rate of 2.03%. Understanding how these cities compare with Barrington provides valuable insights into the varying tax landscape across Bristol County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barrington Tax Rate
2.03%
Average Bristol County Tax Rate
1.37%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barrington, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02806 | 2.03% | 2.03% | 2.03% | 2.03% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Barrington, Rhode Island
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Barrington, Rhode Island. 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 Bristol 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 Barrington, 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. The median home price in Barrington is $437,000, with the 25th percentile tax bill at $6,821 and the 75th percentile tax bill at $12,444. 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 Barrington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Barrington, Rhode Island
Source: Ownwell
$373,900
$542,950
$712,000
Average Barrington Assessed Value
$437,000
Average Bristol County Assessed Value
$394,000
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barrington, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02806 | $285,000 | $336,000 | $437,000 | $613,000 | $864,400 |
Source: Ownwell
Property Tax Bills Across Barrington, Rhode Island
In Barrington, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the local assessor's office. Factors such as property size, location, and condition influence the assessed value. For instance, with a median home price of $437,000, homeowners in Barrington face substantial property tax bills. The national median property tax rate is 0.99%, but Barrington's property tax rate is significantly higher, resulting in a more considerable financial burden on its residents. The tax bill for the 25th percentile is $6,821, while homeowners in the 75th percentile pay up to $12,444. Those in the 90th percentile experience even steeper bills, reaching $17,547. This discrepancy highlights the substantial variation in tax liabilities within the community. Consequently, homeowners in Barrington must budget carefully to accommodate these high property tax expenses, which can significantly impact their overall financial planning.
Average Barrington Tax Bill
$8,871
Average Bristol County Tax Bill
$6,020
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Barrington, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02806 | $5,786 | $6,821 | $8,871 | $12,444 | $17,547 |
Source: Ownwell