Newport County, Rhode Island Property Taxes
The median property tax rate in Newport County is 1.26%, which is significantly higher than both the national median of 0.99% and the Rhode Island state median of 1.48%. With the median home value in Newport County, the typical annual property tax bill reaches $5,041, which exceeds the national median of $2,690. Property taxes in Newport County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Newport County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Newport or another part of Newport County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newport County, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$5,763
$5,348
Ownwell’s Newport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newport with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Newport to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a 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 Newport County, Rhode Island
Property taxes in Newport County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Newport County is 1.26%, which is higher than both the Rhode Island state median and the U.S. national median of 0.99%. Local government entities within Newport County set these rates annually, and they can vary significantly between different areas within the county. Each year, Newport County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Newport County's effective property tax rate with other counties in Rhode Island and the national median. For comparison, the city of Tiverton has one of the higher property tax rates in Rhode Island at 1.49%, while the city of Little Compton boasts one of the lowest at 0.50%. Analyzing how Newport County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Newport County Tax Rate
1.26%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newport County, Rhode Island
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | N/A | N/A | N/A | N/A | N/A |
| Jamestown | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
| Little Compton | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Middletown | 1.26% | 1.26% | 1.26% | 1.26% | 1.26% |
| Newport | 0.99% | 0.99% | 0.99% | 0.99% | 0.99% |
| Portsmouth | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
| Prudence Island | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
| Tiverton | 1.49% | 1.49% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Newport County, Rhode Island
In Newport County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Newport County Appraisal District. The assessed value, however, 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. Assessment notices in Newport County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Portsmouth has the highest median tax bill at $6,008, while Little Compton has the lowest at $3,155. Being aware of these valuation processes in Newport County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Newport County, Rhode Island
Source: Ownwell
$256,350
$487,675
$719,000
Average Newport County Assessed Value
$457,350
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newport County, Rhode Island
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | N/A | N/A | N/A | N/A | N/A |
| Jamestown | $443,500 | $540,600 | $719,000 | $1,093,500 | $2,050,400 |
| Little Compton | $344,160 | $466,500 | $636,100 | $1,020,800 | $2,151,840 |
| Middletown | $272,380 | $330,500 | $410,000 | $548,400 | $760,560 |
| Newport | $276,800 | $380,300 | $506,300 | $698,000 | $1,076,320 |
| Portsmouth | $259,400 | $358,600 | $469,800 | $655,800 | $875,680 |
| Prudence Island | $157,460 | $205,450 | $256,350 | $327,250 | $413,380 |
| Tiverton | $184,120 | $236,025 | $296,320 | $413,375 | $568,790 |
Source: Ownwell
Property Tax Bills Across Newport County, Rhode Island
In Newport County, RI, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the market value of similar properties in the area, home improvements, and overall property condition. Homeowners in Newport County face varying tax bills depending on their property's value. For instance, the tax bill at the 25th percentile is $3,778, while at the 75th percentile, it rises to $7,118. The 90th percentile tax bill can reach up to $10,471. Comparatively, the national median property tax rate is 0.99%, making Newport County's rates relatively high. In specific areas, such as Portsmouth, the median tax bill can be as high as $6,008, whereas in Little Compton, it can be as low as $3,155. These property taxes significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Newport County Tax Bill
$5,041
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Newport County, Rhode Island
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | N/A | N/A | N/A | N/A | N/A |
| Jamestown | $3,096 | $3,773 | $5,019 | $7,633 | $14,312 |
| Little Compton | $1,707 | $2,314 | $3,155 | $5,064 | $10,673 |
| Middletown | $3,429 | $4,162 | $5,167 | $6,921 | $9,607 |
| Newport | $2,754 | $3,783 | $5,026 | $6,924 | $10,677 |
| Portsmouth | $3,318 | $4,585 | $6,008 | $8,384 | $11,193 |
| Prudence Island | $2,012 | $2,626 | $3,276 | $4,182 | $5,283 |
| Tiverton | $2,810 | $3,528 | $4,430 | $6,166 | $8,493 |
Source: Ownwell