Saunderstown, Rhode Island Property Taxes
The median property tax rate in Saunderstown, 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 Saunderstown at $534,550, the typical annual property tax bill reaches $7,278, significantly exceeding the national median of $2,690. Property taxes in Saunderstown 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 Saunderstown'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 Saunderstown 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
Saunderstown, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$7,644
$7,093
Ownwell’s Saunderstown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Saunderstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saunderstown 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 Saunderstown, Rhode Island
Property taxes in Saunderstown, Rhode Island, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saunderstown is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Saunderstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saunderstown 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 Saunderstown's effective property tax rate to other regions in Washington County and the national median. For comparison, the highest and lowest median property tax rates in Washington County are both 1.43% in the zip code 02874. Understanding how these cities compare with Saunderstown 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 Saunderstown 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 Saunderstown, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02874 | 0.93% | 0.93% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Saunderstown, Rhode Island
In Saunderstown, 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 Saunderstown, 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 Saunderstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Saunderstown, the median home price is $534,550, with the 25th percentile tax bill at $4,278 and the 75th percentile tax bill at $10,284. The highest and lowest median tax bills are both $7,278, found in zip code 02874.
Property Tax Assessment Values Across Saunderstown, Rhode Island
Source: Ownwell
$136,250
$657,225
$1,178,200
Average Saunderstown Assessed Value
$534,550
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 Saunderstown, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02874 | $326,850 | $391,625 | $534,550 | $737,725 | $924,550 |
Source: Ownwell
Property Tax Bills Across Saunderstown, Rhode Island
In Saunderstown, Washington County, RI, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in the area is $534,550. Tax bills can vary widely, influenced by factors such as property location, size, and improvements. For instance, homeowners in the 25th percentile pay around $4,278 annually, while those in the 75th percentile face bills closer to $10,284. At the 90th percentile, tax bills can reach up to $12,714. The local median property tax bill stands at $7,278, which is significantly higher than the national median property tax rate of 0.99%. This high tax rate can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and financial planning. It's crucial for homeowners to understand these factors, as they directly influence their annual tax obligations and long-term financial health.
Average Saunderstown Tax Bill
$7,278
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 Saunderstown, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02874 | $3,306 | $4,278 | $7,278 | $10,284 | $12,714 |
Source: Ownwell