Tax Burden in ZIP Code 02840
Newport, RI — Newport County
At the median income of $62,000, the estimated total tax burden in ZIP 02840 is $21,861 (35.3% effective rate), including federal income tax, FICA, and property tax.
Federal Tax (est.)
$8,680
FICA
$4,743
Property Tax
$8,438
Total Tax Burden
$21,861
35.3% effective
Tax Details for ZIP 02840
ZIP code 02840 is located in Newport County, RI, within the Providence MSA metropolitan area. The area has a cost of living index of 122 (100 = national average), making it more expensive than most parts of the country.
The effective property tax rate is 1.35%. On the median home price of $625,000, this equals $8,438 per year ($703/month).
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