Kenyon, Rhode Island Property Taxes
The median property tax rate in Kenyon, RI is 1.48%, considerably higher than the national median of 0.99%. With the median home value in Kenyon at $340,700, the typical annual property tax bill reaches $5,029, exceeding the national median of $2,690. Property taxes in Kenyon 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 Kenyon'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 Kenyon 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
Kenyon, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$5,042
Ownwell’s Kenyon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenyon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenyon 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 Kenyon, Rhode Island
Property taxes in Kenyon, Rhode Island, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenyon is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Kenyon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenyon 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 Kenyon's effective property tax rate to other areas in Rhode Island and the national median. For comparison, the 02836 zip code has the highest median property tax rate of 1.48%, while the 02836 zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Kenyon 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 Kenyon 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 Kenyon, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02836 | 1.48% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Kenyon, Rhode Island
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kenyon, 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. Assessment notices in Kenyon 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 Kenyon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kenyon is $340,700, with tax bills ranging from $4,283 at the 25th percentile to $7,424 at the 90th percentile. The zip code 02836 has both the highest and lowest median tax bill, at $5,029.
Average Kenyon Assessed Value
$340,700
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 Kenyon, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02836 | $234,200 | $290,200 | $340,700 | $398,000 | $502,940 |
Source: Ownwell
Property Tax Bills Across Kenyon, Rhode Island
In Kenyon, Washington County, RI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. Once the market value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Kenyon, the median home price stands at $340,700. The property tax rate in this area results in substantial annual tax bills. For instance, the 25th percentile tax bill is $4,283, while the 75th percentile tax bill reaches up to $5,874. Homeowners at the 90th percentile face even higher bills, averaging $7,424 annually. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. However, the tax burden can be substantial, especially when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to effectively manage their financial planning and obligations.
Average Kenyon Tax Bill
$5,029
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 Kenyon, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02836 | $3,457 | $4,283 | $5,029 | $5,874 | $7,424 |
Source: Ownwell