Rhode Island (RI) property tax rate: 1.53% | Median home: $425,000 | Median annual tax: $6,503
Rhode Island is the smallest state with a competitive New England market. The average effective property tax rate in Rhode Island is 1.53%, which is above the national average of 1.1%.
On the median Rhode Island home valued at $425,000, annual property taxes come to approximately $6,503 or $542/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Rhode Island offers a homestead exemption in some municipalities — check your local rate.
Combined with Rhode Island's state income tax rate of 5.99%, homeowners should consider the total tax picture. Property taxes in Rhode Island are a major expense — budget carefully.
See all Rhode Island financial calculators:
Rhode Island has an average effective property tax rate of 1.53%. On the median home value of $425,000, that equals approximately $6,503 per year or $542 per month.
Property taxes in Rhode Island are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Rhode Island offers a homestead exemption in some municipalities — check your local rate.
Rhode Island property taxes are above the national average of 1.1%. Budget carefully for this significant expense when buying a home here.
Property tax due dates vary by county in Rhode Island. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.