Hope, Kent County, Rhode Island Property Taxes
Median Hope, RI effective property tax rate: 1.53%, significantly higher than the national median of 1.02%, but lower than the Rhode Island state median of 1.48%.
Median Hope, RI home value: $467,100
Median annual Hope, RI tax bill: $7,161, $4,761 higher than the national median property tax bill of $2,400.
How are property taxes in Kent calculated?
Property taxes in Hope, RI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Hope’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hope, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hope, Kent County, Rhode Island Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.53%
Estimate Property Tax Bill
$7,147
$6,632
Property Tax Rates Across Hope, Kent County, Rhode Island
Local government entities in Rhode Island set tax rates, which can vary widely within the state. This variation is due to each county's annual process of estimating its required budget to provide essential services. The budget is then divided by the total value of all taxable property within the jurisdiction, resulting in the property tax rate. Though votes and laws play a role in setting these rates, this calculation forms the core of the annual process.
In Hope, located in Kent County, the effective property tax rate is a key consideration for homeowners. With a median property tax rate of 1.53%, Hope stands out in comparison to the national median property tax rate of 1.02%. This means that homeowners in Hope may experience higher property tax bills than the national average. Understanding this rate in relation to other cities in Rhode Island, as well as the U.S. median, provides valuable insight for those looking to manage their property tax liabilities effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hope Tax Rate
1.53%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Kent County Tax Rate
1.42%
Median Effective Rhode Island Tax Rate
1.48%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hope, Kent County, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02831 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Hope, Kent County, Rhode Island
When examining property taxes in Hope, RI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Kent County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Kent County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hope. For example, the median home price in Hope is $467,100, with tax bills ranging significantly across the county. Zip code 02831 has the highest median home price at $467,100.
Property Tax Assessment Values Across Hope, Kent County, Rhode Island
Source: Ownwell
$256,900
$362,000
$467,100
Median Hope Market Value
$467,100
Median Kent County Market Value
$303,600
Median Rhode Island Market Value
$326,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hope, Kent County, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02831 | $366,520 | $418,050 | $467,100 | $516,900 | $564,400 |
Source: Ownwell
Property Tax Bills Across Hope, Kent County, Rhode Island
In Hope, located in Kent County, RI, property tax bills are a significant consideration for homeowners. The tax bill is determined by applying the local tax rate to the assessed value of the property. With a median home price of $467,100, homeowners in Hope face substantial tax bills, often surpassing the national median property tax bill of $2,400. In fact, the tax bill for the 25th percentile is $6,409, while those in the 75th percentile pay around $7,924, and the 90th percentile sees bills as high as $8,652. These figures indicate that property taxes in Hope can be considerably higher than the national average, impacting homeowners' financial planning.
Ownwell can assist homeowners in Hope by providing expert property tax appeal and exemption services. By reviewing property assessments and identifying potential discrepancies, Ownwell helps ensure that homeowners are not overpaying on their property taxes. This personalized approach can lead to significant savings, making property ownership more affordable and manageable for residents in Hope.
Median Hope Tax Bill
$7,161
Median Kent County Tax Bill
$4,657
Median Rhode Island Tax Bill
$4,920
Median United States Tax Bill
$2,400
Property Tax Bills Across Hope, Kent County, Rhode Island
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02831 | $5,619 | $6,409 | $7,161 | $7,924 | $8,652 |
Source: Ownwell