Forestdale, Rhode Island Property Taxes
The median property tax rate in Forestdale, RI is 1.43%, 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 Forestdale at $327,500, the typical annual property tax bill reaches $4,667, exceeding the national median of $2,690. Property taxes in Forestdale 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 Forestdale'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 Forestdale 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
Forestdale, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$4,683
$4,346
Ownwell’s Forestdale Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Forestdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forestdale to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by Providence County, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Forestdale, Rhode Island
Property taxes in Forestdale, Rhode Island, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forestdale is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Forestdale set these rates annually, and they can vary across different neighborhoods. Each year, Forestdale 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 Forestdale's effective property tax rate to other areas in Providence County and the national median. For comparison, the zip code 02824 has the same median property tax rate of 1.43%. Understanding how these areas compare with Forestdale 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 Forestdale Tax Rate
1.43%
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 Forestdale, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02824 | 1.42% | 1.42% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Forestdale, Rhode Island
In Forestdale, 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. In Forestdale, 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 Forestdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 02824 has the highest median tax bill at $4667, while the lowest median tax bill is also $4667.
Property Tax Assessment Values Across Forestdale, Rhode Island
Source: Ownwell
$51,600
$324,300
$597,000
Average Forestdale Assessed Value
$327,500
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 Forestdale, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02824 | $237,740 | $272,950 | $327,500 | $369,750 | $399,060 |
Source: Ownwell
Property Tax Bills Across Forestdale, Rhode Island
In Forestdale, RI, property tax bills are calculated based on the assessed value of a home, which is determined by the Providence County tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $327,500, homeowners can expect to pay property taxes that vary significantly within the region. The tax bill for the 25th percentile is around $3,890, while the 75th percentile sees bills closer to $5,269. At the 90th percentile, property tax bills can reach up to $5,686. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the specific economic and property market conditions in Providence County. Homeowners in Forestdale should be aware that their property tax bills are influenced by various factors, including changes in assessed property values and local tax rate adjustments. Understanding these elements can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Forestdale Tax Bill
$4,667
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 Forestdale, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02824 | $3,388 | $3,890 | $4,667 | $5,269 | $5,686 |
Source: Ownwell