Slatersville, Rhode Island Property Taxes
The median property tax rate in Slatersville, 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 Slatersville at $313,800, the typical annual property tax bill reaches $4,472, exceeding the national median of $2,690. Property taxes in Slatersville 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 Slatersville'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 Slatersville 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
Slatersville, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$4,487
Ownwell’s Slatersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slatersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slatersville 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 Slatersville, Rhode Island
Property taxes in Slatersville, 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 Slatersville is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Slatersville set these rates annually, and they can vary across different neighborhoods. Each year, Slatersville 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 Slatersville's effective property tax rate to other areas in Rhode Island and the national median. For comparison, the zip code 02876 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Slatersville 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 Slatersville 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 Slatersville, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02876 | 1.42% | 1.42% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Slatersville, Rhode Island
In Slatersville, 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 Slatersville, 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 Slatersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Slatersville are both $4,472 in the 02876 zip code.
Property Tax Assessment Values Across Slatersville, Rhode Island
Source: Ownwell
$51,600
$324,300
$597,000
Average Slatersville Assessed Value
$313,800
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 Slatersville, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02876 | $263,660 | $296,300 | $313,800 | $357,300 | $390,440 |
Source: Ownwell
Property Tax Bills Across Slatersville, Rhode Island
In Slatersville, Providence County, RI, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. In this region, the median home price is $313,800, influencing the overall tax burden for homeowners. Several factors affect the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For instance, homes in the 25th percentile of tax bills pay around $4,222 annually, while those in the 75th percentile face tax bills closer to $5,092. The highest tax bills, found in the 90th percentile, can reach up to $5,564. Compared to the national median property tax rate of 0.99%, homeowners in Slatersville experience varying tax burdens, directly impacting their financial planning and homeownership costs. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Slatersville Tax Bill
$4,472
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 Slatersville, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02876 | $3,757 | $4,222 | $4,472 | $5,092 | $5,564 |
Source: Ownwell