Florida vs Rhode Island
Property Tax Comparison: Florida vs. Rhode Island
Intro
Both Florida and Rhode Island levy property taxes that fund local services such as schools, public safety, and infrastructure. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Florida’s effective property tax rate is lower than Rhode Island’s. The difference in rates translates into lower annual tax bills for comparable home values in Florida.
Side‑by‑Side Metrics
| Metric | Florida | Rhode Island |
|---|---|---|
| Effective property tax rate | 0.79 % | 1.32 % |
| Median home value | $325,000 | $368,800 |
| Median annual property tax | $2,555 | $4,854 |
| Tax on a $250,000 home | $1,966 | $3,291 |
| Tax on a $500,000 home | $3,931 | $6,581 |
| Median household income | $71,711 | $86,372 |
Sources: According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State “Wins” on Property Taxes?
Winner (lower tax rate): Florida
Why:
- Florida’s effective property tax rate of 0.79 % is 0.53 percentage points lower than Rhode Island’s 1.32 %.
- This represents a 40.27 % lower rate (0.53 ÷ 1.32 ≈ 0.4027).
- For a $250,000 home, the annual tax in Florida is $1,966, compared with $3,291 in Rhode Island—a difference of $1,325.
- For a $500,000 home, the annual tax in Florida is $3,931, versus $6,581 in Rhode Island—a difference of $2,650.
Because the tax burden is directly tied to the effective rate, the lower rate in Florida results in consistently lower property tax payments across home price ranges.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of the Comparison |
|---|---|
| Current homeowners | Understanding the ongoing cost of owning a home in each state helps with budgeting and long‑term financial planning. |
| Prospective homebuyers | Lower property taxes can affect affordability calculations, especially when evaluating similar‑priced homes. |
| Retirees | Many retirees consider overall tax burden, including property taxes, when selecting a retirement location. A lower rate may make Florida more attractive from a tax‑expense standpoint. |
| Real‑estate investors | Property tax expense influences net rental yields and total return on investment; the lower Florida rate can improve cash flow assumptions. |
| Policy analysts | The data provide a clear illustration of how state‑level tax policy differs and its impact on household finances. |
All of the above groups can use the factual figures presented here to compare the relative property‑tax cost of living in Florida versus Rhode Island.
Additional Resources
- Detailed information on Florida’s property‑tax structure: Florida property tax
- Detailed information on Rhode Island’s property‑tax structure: Rhode Island property tax
Based on the most recent ACS estimates, the figures above reflect statewide medians and effective rates; local variations (e.g., county or municipal millage rates) may cause actual tax bills to differ.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.