East Greenwich, Rhode Island Property Taxes
The median property tax rate in East Greenwich, 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 East Greenwich at $373,600, the typical annual property tax bill reaches $5,357, exceeding the national median of $2,690. Property taxes in East Greenwich 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 East Greenwich'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 East Greenwich 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
East Greenwich, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$5,342
$4,958
Ownwell’s East Greenwich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Greenwich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Greenwich 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 East Greenwich, Rhode Island
Property taxes in East Greenwich, Rhode Island, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Greenwich is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Greenwich set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Greenwich 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 East Greenwich's effective property tax rate to other counties in Rhode Island and the national median. For comparison, the 02818 zip code has the highest median property tax rate of 1.43%, while the same 02818 zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with East Greenwich 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 East Greenwich Tax Rate
1.43%
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 East Greenwich, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02818 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across East Greenwich, Rhode Island
In East Greenwich, 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 local 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. 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 East Greenwich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $5,357, found in the zip code 02818.
Property Tax Assessment Values Across East Greenwich, Rhode Island
Source: Ownwell
$136,250
$657,225
$1,178,200
Average East Greenwich Assessed Value
$373,600
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 East Greenwich, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02818 | $373,600 | $373,600 | $373,600 | $373,600 | $373,600 |
Source: Ownwell
Property Tax Bills Across East Greenwich, Rhode Island
In East Greenwich, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in East Greenwich is $373,600. Property taxes are calculated by multiplying the assessed value of the property by the tax rate set by the local government. Homeowners in East Greenwich face a median property tax bill of $5,357, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Higher property taxes can impact homeowners by increasing the overall cost of owning a home, which can be a significant financial consideration. Despite the high property tax rates, many residents find value in the quality of public services and amenities provided in the area. Understanding how these taxes are calculated can help homeowners better manage their expenses and plan for future financial commitments.
Average East Greenwich Tax Bill
$5,357
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 East Greenwich, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02818 | $5,357 | $5,357 | $5,357 | $5,357 | $5,357 |
Source: Ownwell