Ashaway, Rhode Island Property Taxes
The median property tax rate in Ashaway, RI is 1.47%, slightly lower than the Rhode Island state median of 1.48% but still considerably higher than the national median of 0.99%. With a median home value of $314,200 in Ashaway, the typical annual property tax bill reaches $4,606, significantly exceeding the national median of $2,690. Property taxes in Ashaway 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 Ashaway'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 Ashaway 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
Ashaway, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$4,619
Ownwell’s Ashaway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ashaway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ashaway 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 Ashaway, Rhode Island
Property taxes in Ashaway, Rhode Island, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ashaway is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ashaway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ashaway 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 Ashaway's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the zip code 02804 has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Ashaway provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ashaway Tax Rate
1.47%
Average Washington County Tax Rate
1.10%
Average Rhode Island Tax Rate
1.48%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ashaway, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02804 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Ashaway, Rhode Island
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ashaway, 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 Washington 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 Ashaway, 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. The median home price in Ashaway is $314,200, resulting in varying tax bills across different percentiles. For instance, the 25th percentile tax bill is $3,871, while the 75th percentile tax bill is $5,724, and the 90th percentile tax bill reaches $6,833. Notably, the zip code 02804 has both the highest and lowest median tax bills at $4,606. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ashaway, Rhode Island
Source: Ownwell
$136,250
$657,225
$1,178,200
Average Ashaway Assessed Value
$314,200
Average Washington County Assessed Value
$428,800
Average Rhode Island Assessed Value
$326,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ashaway, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02804 | $228,330 | $264,050 | $314,200 | $390,425 | $466,060 |
Source: Ownwell
Property Tax Bills Across Ashaway, Rhode Island
Property tax bills in Ashaway, Washington County, RI are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town’s assessor and reflects the estimated market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Ashaway, the median home price stands at $314,200. Homeowners in the 25th percentile can expect a tax bill around $3,871, while those in the 75th percentile might see bills closer to $5,724. For the top 10% of property values, tax bills can reach up to $6,833. Comparatively, Ashaway's property tax rate and median tax bill are significantly higher than the national median property tax rate of 0.99%. This impacts homeowners by increasing their annual expenses, making it crucial to understand and potentially appeal their property tax assessments.
Average Ashaway Tax Bill
$4,606
Average Washington County Tax Bill
$4,838
Average Rhode Island Tax Bill
$4,920
Average United States Tax Bill
$2,690
Property Tax Bills Across Ashaway, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02804 | $3,347 | $3,871 | $4,606 | $5,724 | $6,833 |
Source: Ownwell