Tax System in Rhode Island
Rhode Island uses a progressive tax system with tax brackets ranging from 3.75-5.99%. Each bracket corresponds to an income range.
Property Tax Rates in Rhode Island
The average property tax rate in Rhode Island is 15.67. West Greenwich has the highest property tax rate in Rhode Island at 24.51.
Below are the towns in Rhode Island with the highest property tax rates:
1) West Greenwich – 24.51
2) Johnston – 23.24
Property Tax Information for Rhode Island
- Rhode Island’s median income is $73,579 per year.
- The median yearly property tax paid by residents amounts to approximately 1.23% of their yearly income.
- The property tax levied depends on the county, with different rates for each.
Tax Rates and Rankings in Rhode Island
- Most Rhode Island residential property tax rates range from about $8 per $1,000 in value to about $24 per $1,000 in value.
- Providence County has the state’s highest effective property tax rate at 1.72%.
- Rhode Island ranks 10th for highest property taxes in the U.S.
Property Tax Comparison
Little Compton has the lowest property tax rate in Rhode Island at 4.90, while West Greenwich has the highest at 24.51, and Johnston has the second-highest rate at 23.24.
Additional Details
- The homestead exemption provides a 40% reduction on annual property taxes for Rhode Island residents.
- Military retired pay follows federal tax rules.
Conclusion
Rhode Island ranks as the 10th highest for property taxes in the U.S.