Richmond, Washington County, Rhode Island Property Taxes

Name: Property Tax Bills Across Richmond, Washington County, Rhode Island
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Richmond, RI effective property tax rate: 1.48%, significantly higher than the national median of 1.02%, but equal to the Rhode Island state median of 1.48%.
Median Richmond, RI home value: $340,200
Median annual Richmond, RI tax bill: $5,021, $2,621 higher than the national median property tax bill of $2,400.

How are property taxes in Washington calculated?

Property taxes in Richmond, 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 Richmond’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richmond, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Richmond, Washington County, Rhode Island Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.48%

Estimate Property Tax Bill

$5,035

$4,672

Ownwell’s Richmond Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richmond with just two data points.

By entering your property's estimated assessed value, our calculator applies Richmond’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Washington County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Richmond, Washington County, Rhode Island

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process. Richmond in Washington County, Rhode Island, has an effective property tax rate of 1.48%, which is notably higher than the national median of 1.02%. This places a heavier burden on property owners compared to the national average. Comparing Richmond's rate to other cities in Rhode Island, it stands at the higher end of the spectrum, reflecting the state's overall higher property tax rates. The consistency of the tax rate across the county, with the highest and lowest median rates both at 1.48%, underscores the uniformity in this region. While property taxes are essential for funding local services, understanding these rates can help property owners make informed financial decisions.

Property Tax Rates Across Richmond, Washington County, Rhode Island

Source: Ownwell

0.57%

1.03%

1.48%

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 Richmond Tax Rate

1.48%

Median Effective Washington County Tax Rate

1.10%

Median Effective Rhode Island Tax Rate

1.48%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Richmond, Washington County, Rhode Island

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
02892	1.48%	1.48%	1.48%	1.48%	1.48%
02812	N/A	N/A	N/A	N/A	N/A
02836	N/A	N/A	N/A	N/A	N/A
02898	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Richmond, Washington County, Rhode Island

When examining property taxes in Richmond, 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 Washington 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 Washington County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Richmond. For example, the median home price in Richmond is $340,200, with tax bills ranging significantly across the county. Zip code 02892 has the highest median home price at $238,200.

Property Tax Assessment Values Across Richmond, Washington County, Rhode Island

Source: Ownwell

$136,250

$657,225

$1,178,200

Median Richmond Market Value

$340,200

Median Washington County Market Value

$428,800

Median Rhode Island Market Value

$326,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Richmond, Washington County, Rhode Island

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
02892	$130,800	$155,050	$238,200	$598,150	$632,300
02812	N/A	N/A	N/A	N/A	N/A
02836	N/A	N/A	N/A	N/A	N/A
02898	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Richmond, Washington County, Rhode Island

In Richmond, Washington County, RI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $340,200, homeowners can expect varying tax bills depending on the assessed value and the specific tax rate applied. The 25th percentile tax bill is $2,344, which is below the national median property tax bill of $2,400, while the 75th percentile bill rises to $8,634, and the 90th percentile reaches $9,325. These figures illustrate the range of tax burdens homeowners might face.

Ownwell assists homeowners in reducing their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners challenge and lower their tax liabilities, ensuring they only pay their fair share. This service is particularly beneficial in areas with higher tax burdens, offering potential savings and financial relief.

Property Tax Bills Across Richmond, Washington County, Rhode Island

Source: Ownwell

$1,506

$4,392

$7,278

Median Richmond Tax Bill

$5,021

Median Washington County Tax Bill

$4,838

Median Rhode Island Tax Bill

$4,920

Median United States Tax Bill

$2,400

Property Tax Bills Across Richmond, Washington County, Rhode Island

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
02892	$1,931	$2,288	$3,516	$8,828	$9,333
02812	N/A	N/A	N/A	N/A	N/A
02836	N/A	N/A	N/A	N/A	N/A
02898	N/A	N/A	N/A	N/A	N/A

Source: Ownwell