Clayville, Rhode Island Property Taxes
The median property tax rate in Clayville, RI is 1.68%, 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 Clayville at $352,400, the typical annual property tax bill reaches $5,930, far exceeding the national median of $2,690. Property taxes in Clayville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Clayville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Clayville or another part of Providence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clayville, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$5,920
Ownwell’s Clayville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayville 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 Clayville, Rhode Island
Property taxes in Clayville, Rhode Island, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayville is 1.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Clayville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayville 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 Clayville's effective property tax rate to other areas in Providence County and the national median. For comparison, the zip code 02815 has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these areas compare with Clayville provides valuable insights into the varying tax landscape across Providence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayville Tax Rate
1.68%
Average Providence County Tax Rate
1.71%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayville, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02815 | 1.68% | 1.68% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Clayville, Rhode Island
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clayville, 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 Providence 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 Clayville, 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 Clayville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Clayville is $352,400, with median tax bills ranging from $4,553 at the 25th percentile to $8,716 at the 90th percentile. The highest and lowest median tax bills both stand at $5,930 in the 02815 zip code.
Average Clayville Assessed Value
$352,400
Average Providence County Assessed Value
$293,200
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayville, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02815 | $233,360 | $262,050 | $352,400 | $421,325 | $504,620 |
Source: Ownwell
Property Tax Bills Across Clayville, Rhode Island
In Clayville, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Providence County can expect their property taxes to be influenced by several factors, including the assessed value of their property, which is determined by the city's assessor, and the local tax rate set by municipal authorities. For example, the median home price in Clayville is $352,400, and property tax bills can range significantly. The 25th percentile tax bill is around $4,553, while the 75th percentile tax bill is approximately $7,134, with the 90th percentile reaching up to $8,716. This means that homeowners with higher-valued properties or those located in areas with higher tax rates will bear a larger tax burden. The highest median tax bill in the area is $5,930, which is significantly higher than the national median property tax rate of 0.99%. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community.
Average Clayville Tax Bill
$5,930
Average Providence County Tax Bill
$4,934
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayville, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02815 | $3,960 | $4,553 | $5,930 | $7,134 | $8,716 |
Source: Ownwell