Cranston, Rhode Island Property Taxes
The median property tax rate in Cranston, RI is 1.89%, 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 Cranston at $253,900, the typical annual property tax bill reaches $4,801, exceeding the national median of $2,690. Property taxes in Cranston 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 Cranston'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 Cranston 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
Cranston, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$4,799
Ownwell’s Cranston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cranston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cranston 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 Cranston, Rhode Island
Property taxes in Cranston, Rhode Island, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cranston is 1.89%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cranston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cranston 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 Cranston's effective property tax rate to other areas in Rhode Island and the national median. For comparison, the zip code 02921 has the highest median property tax rate of 1.89%, while zip code 02907 has the lowest median tax rate of 1.89%. Understanding how these cities compare with Cranston 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 Cranston Tax Rate
1.89%
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 Cranston, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02905 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
| 02907 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
| 02910 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
| 02920 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
| 02921 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Cranston, Rhode Island
In Cranston, 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 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. 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. Cranston's median home price is $253,900, with tax bills ranging from $4,173 at the 25th percentile to $7,759 at the 90th percentile. The highest median tax bill is $7,108 in the 02921 zip code, while the lowest median tax bill is $4,332 in the 02910 zip code. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cranston Assessed Value
$253,900
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 Cranston, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02905 | $198,400 | $223,000 | $265,700 | $350,800 | $459,360 |
| 02907 | $189,600 | $218,375 | $235,750 | $255,400 | $273,400 |
| 02910 | $195,400 | $210,100 | $229,200 | $252,800 | $278,700 |
| 02920 | $195,700 | $220,900 | $252,100 | $294,600 | $347,700 |
| 02921 | $256,440 | $309,400 | $375,600 | $450,500 | $543,320 |
Source: Ownwell
Property Tax Bills Across Cranston, Rhode Island
In Cranston, Providence County, RI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the city’s tax assessor and is meant to reflect the market value of the property. This value is then multiplied by the tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Cranston experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $4,173, while at the 75th percentile, it rises to $5,942. The 90th percentile sees tax bills as high as $7,759. The highest median tax bill in the city is found in zip code 02921 at $7,108, whereas the lowest is in zip code 02910 at $4,332. These property tax bills can significantly impact homeowners, making it crucial to understand how they are calculated and what factors are considered. With Cranston's property tax rate above the national median of 0.99%, it’s important for homeowners to stay informed and potentially seek ways to manage their tax liabilities.
Average Cranston Tax Bill
$4,801
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 Cranston, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02905 | $3,750 | $4,215 | $5,022 | $6,638 | $8,674 |
| 02907 | $3,583 | $4,127 | $4,456 | $4,827 | $5,167 |
| 02910 | $3,693 | $3,971 | $4,332 | $4,776 | $5,266 |
| 02920 | $3,701 | $4,177 | $4,769 | $5,568 | $6,572 |
| 02921 | $4,848 | $5,850 | $7,108 | $8,516 | $10,265 |
Source: Ownwell