Carolina, Rhode Island Property Taxes
The median property tax rate in Carolina, RI is 1.48%, significantly higher than the national median of 0.99%. With a median home value of $389,500, the typical annual property tax bill in Carolina reaches $5,749, surpassing the national median of $2,690. Property taxes in Carolina are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Carolina's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Carolina 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
Carolina, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$5,765
Ownwell’s Carolina Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Carolina using just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Carolina to provide an estimated property tax bill. This valuable tool helps you grasp potential tax obligations. For those interested in trends at the neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Carolina, Rhode Island
Property taxes in Carolina, Rhode Island, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carolina is 1.48%, significantly higher than both the Rhode Island state median and the U.S. national median of 0.99%. Local government entities within Carolina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carolina 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 Carolina's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the 02812 zip code has the highest median property tax rate of 1.48%, while the same 02812 zip code also has the lowest median tax rate of 1.48%. Understanding how these areas compare with Carolina 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 Carolina Tax Rate
1.48%
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 Carolina, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02812 | 1.48% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Carolina, Rhode Island
In Carolina, 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 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 Carolina, 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 Carolina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 02812 has the highest and lowest median tax bill at $5,749, highlighting the uniformity in tax burdens within the region.
Property Tax Assessment Values Across Carolina, Rhode Island
Source: Ownwell
$136,250
$657,225
$1,178,200
Average Carolina Assessed Value
$389,500
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 Carolina, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02812 | $298,630 | $338,200 | $389,500 | $482,700 | $576,080 |
Source: Ownwell
Property Tax Bills Across Carolina, Rhode Island
In Carolina, located in 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. Factors such as property size, location, and market conditions are considered when assessing a property's value. For instance, the median home price in Carolina is $389,500. Homeowners in Carolina can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill is around $4,992, while the 75th percentile reaches up to $7,124, and the 90th percentile can go as high as $8,503. These figures illustrate the significant range in tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, Carolina's rates can be notably higher, reflecting the local economic conditions and funding requirements for public services. This variation in tax bills can have a substantial impact on homeowners, influencing their financial planning and the overall affordability of living in Carolina.
Average Carolina Tax Bill
$5,749
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 Carolina, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02812 | $4,408 | $4,992 | $5,749 | $7,124 | $8,503 |
Source: Ownwell