02863 Property Tax Rate

Property owners in ZIP code 02863 (Central Falls, Rhode Island) pay a median of $3,929/year in property taxes on homes valued at $300,500. This translates to an effective tax rate of 1.31%, which is near the Rhode Island state average of 1.29%.

The monthly property tax burden for a median-valued home in 02863 is approximately $327, which factors into escrow payments on mortgages. This ZIP code is located within Providence County. This is $1,129 less than the Rhode Island average of $5,058/year.

Compared to similar ZIP codes in Rhode Island, 02863 has higher property taxes. ZIP codes with similar effective rates include 02903 (1.31%) and 02824 (1.29%).

In Central Falls, property taxes represent approximately 8.6% of the median household income of $45,921, providing context for the relative tax burden on homeowners in this area.

Rhode Island applies no statewide property tax cap; reassessment occurs when property changes hands or at intervals set by your municipality — contact the Providence County Assessor for your specific town's cycle. Providence County homebuyers should explore income-based relief programs through their town assessor's office, as eligibility varies by municipality but may include exemptions or deferrals for seniors, veterans, or low-income households. After closing, file a homestead exemption application immediately with your town assessor — most Providence County towns require filing within 30–60 days to qualify for current-year tax reduction.