Prudence Island, Newport County, Rhode Island Property Taxes
Median Prudence Island, RI effective property tax rate: 1.28%, significantly higher than the national median of 1.02%, but lower than the Rhode Island state median of 1.48%.
Median Prudence Island, RI home value: $256,350
Median annual Prudence Island, RI tax bill: $3,276, $876 higher than the national median property tax bill of $2,400.
How are property taxes in Newport calculated?
Property taxes in Prudence Island, RI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Prudence Island’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prudence Island, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Prudence Island, Newport County, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.28%
Estimate Property Tax Bill
$3,281
$3,045
Property Tax Rates Across Prudence Island, Newport County, Rhode Island
Local government entities determine tax rates, leading to significant variations within a state. Each county calculates its necessary budget to maintain services and divides it by the total assessed value of all taxable properties within its boundaries, resulting in the property tax rate. Though votes and legislative measures play roles in establishing these rates and budgets, this is the core annual procedure.
In Prudence Island, located in Newport County, property owners experience an effective property tax rate of 1.28%. This rate is notably higher than the national median property tax rate of 1.02%. It reflects the unique budgetary needs and property values specific to the area. While Prudence Island’s rate aligns with the highest and lowest median tax rates within its zip code, it still exceeds the national average. This comparison highlights the distinct fiscal dynamics at play in the region.
Understanding these local variations is crucial for property owners seeking to manage their tax liabilities effectively. By staying informed, residents can better navigate the complexities of property taxation and ensure they are leveraging any available exemptions or appeals.
Property Tax Rates Across Prudence Island, Newport County, Rhode Island
Source: Ownwell
0.50%
0.99%
1.49%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Prudence Island Tax Rate
1.28%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Newport County Tax Rate
1.26%
Median Effective Rhode Island Tax Rate
1.48%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Prudence Island, Newport County, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02872 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Prudence Island, Newport County, Rhode Island
When examining property taxes in Prudence Island, RI, 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 location, property condition, and economic market trends. The Newport County appraisal district estimates the market value for tax purposes. The assessed value is 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.
In Newport County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Prudence Island. For example, the median home price in Prudence Island is $256,350, with tax bills ranging significantly across the county. The zip code 02872 has the highest median home price at $256,350.
Property Tax Assessment Values Across Prudence Island, Newport County, Rhode Island
Source: Ownwell
$256,350
$487,675
$719,000
Median Prudence Island Market Value
$256,350
Median Newport County Market Value
$457,350
Median Rhode Island Market Value
$326,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Prudence Island, Newport County, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02872 | $157,460 | $205,450 | $256,350 | $327,250 | $413,380 |
Source: Ownwell
Property Tax Bills Across Prudence Island, Newport County, Rhode Island
In Prudence Island, located in Newport County, RI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in the area is $256,350, which is assessed to establish the tax liability. Homeowners in this region experience a median property tax bill of $3,276, notably higher than the national median of $2,400. Factors influencing these tax bills include property characteristics, market conditions, and local budgetary needs. Homeowners in Prudence Island face tax bills ranging from the 25th percentile at $2,626 to the 90th percentile at $5,283, reflecting the variability in assessments and tax liabilities.
Ownwell helps homeowners in Prudence Island by providing property tax appeal and exemption services. Our team of experts reviews property assessments to identify potential inaccuracies or overvaluations. By filing appeals on behalf of homeowners, Ownwell aims to reduce their property tax bills, ensuring they only pay their fair share and potentially saving them significant amounts annually.
Property Tax Bills Across Prudence Island, Newport County, Rhode Island
Source: Ownwell
$3,155
$4,582
$6,008
Median Prudence Island Tax Bill
$3,276
Median Newport County Tax Bill
$5,041
Median Rhode Island Tax Bill
$4,920
Median United States Tax Bill
$2,400
Property Tax Bills Across Prudence Island, Newport County, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02872 | $2,012 | $2,626 | $3,276 | $4,182 | $5,283 |
Source: Ownwell