Bradford, Rhode Island Property Taxes
The median property tax rate in Bradford, RI is 0.96%, slightly lower than the national median of 0.99% but considerably below the Rhode Island state median of 1.48%. With the median home value in Bradford, the typical annual property tax bill reaches $3,004, surpassing the national median of $2,690. Property taxes in Bradford 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 Bradford'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 Bradford 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
Bradford, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,694
$2,500
Ownwell’s Bradford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bradford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradford 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 Washington County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bradford, Rhode Island
Property taxes in Bradford, Rhode Island, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradford is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Bradford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradford 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. For comparison, the zip code 02808 has the highest median property tax rate of 0.96%, while the zip code 16701 has the lowest median tax rate of 0.57%. Understanding how these areas compare with Bradford 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 Bradford Tax Rate
0.96%
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 Bradford, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02808 | 0.96% | 0.96% | 0.96% | 1.47% | 1.47% |
| 16701 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Bradford, Rhode Island
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bradford, 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 Bradford, 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. For example, the highest median tax bill in Bradford is $3,007 in the 02808 zip code, while the lowest is $1,845 in the 16701 zip code. 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 Bradford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bradford, Rhode Island
Source: Ownwell
$136,250
$657,225
$1,178,200
Average Bradford Assessed Value
$280,650
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 Bradford, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02808 | $209,000 | $245,050 | $280,600 | $345,800 | $431,500 |
| 16701 | $321,400 | $321,400 | $321,400 | $321,400 | $321,400 |
Source: Ownwell
Property Tax Bills Across Bradford, Rhode Island
In Bradford, Washington County, RI, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Bradford is $280,650, and the property tax rate is applied to this value to calculate the tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Homeowners in Bradford can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $2,470, while the 75th percentile reaches up to $4,101. At the higher end, the 90th percentile tax bill can be as much as $6,050. Compared to the national median property tax rate of 0.99%, Bradford's property tax bills reflect the unique economic conditions of the area, impacting how much homeowners pay annually. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Bradford Tax Bill
$3,004
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 Bradford, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02808 | $2,066 | $2,476 | $3,007 | $4,106 | $6,053 |
| 16701 | $1,845 | $1,845 | $1,845 | $1,845 | $1,845 |
Source: Ownwell