West Warwick, Rhode Island Property Taxes
The median property tax rate in West Warwick, RI is 1.83%, 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 West Warwick at $256,900, the typical annual property tax bill reaches $4,756, exceeding the national median of $2,690. Property taxes in West Warwick 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 West Warwick'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 West Warwick 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
West Warwick, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$4,701
Ownwell’s West Warwick Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in West Warwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Warwick to estimate your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. If you’re curious about trends on a neighborhood level, scroll down to discover more localized information. Your property’s assessed value is the value assigned by Kent County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across West Warwick, Rhode Island
Property taxes in West Warwick are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in West Warwick is 1.83%, significantly higher than the U.S. national median of 0.99%. Local government entities within West Warwick set these rates annually, and they can vary across different neighborhoods. Each year, West 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 West Warwick's effective property tax rate to other areas and the national median. For comparison, the 02893 zip code has the highest median property tax rate of 1.83%, while the same zip code also has the lowest median tax rate of 1.83%. Understanding how these figures compare with West Warwick provides valuable insights into the consistent tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Warwick Tax Rate
1.83%
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 West Warwick, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02893 | 1.83% | 1.83% | 1.83% | 1.83% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across West Warwick, Rhode Island
In West 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 West 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 West Warwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 02893 has the highest and lowest median tax bill, both at $4,756.
Property Tax Assessment Values Across West Warwick, Rhode Island
Source: Ownwell
$217,800
$393,700
$569,600
Average West Warwick Assessed Value
$256,900
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 West Warwick, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02893 | $186,300 | $221,600 | $256,900 | $297,700 | $343,000 |
Source: Ownwell
Property Tax Bills Across West Warwick, Rhode Island
In West Warwick, property tax bills are determined by assessing the value of your home and then applying the local tax rate. The assessed value is based on the market value of your property, which can fluctuate with the real estate market. For homeowners in West Warwick, located in Kent County, the median home price is $256,900. This valuation plays a crucial role in calculating the annual property tax bill. The property tax rate in this area results in a median tax bill of $4,756, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in the 25th percentile can expect to pay around $4,087, while those in the 75th percentile might see bills as high as $5,514. For those in the 90th percentile, the tax bill can climb to $6,368. These figures highlight the considerable impact property taxes have on homeowners, influencing their overall financial planning and housing affordability.
Average West Warwick Tax Bill
$4,756
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 West Warwick, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02893 | $3,413 | $4,087 | $4,756 | $5,514 | $6,368 |
Source: Ownwell