Peaceful Little Compton
Tucked away in the southeastern corner of Rhode Island, Little Compton has an atmosphere all its own. The town retains its rural character and is peaceful and picturesque. Here you will find tiny cottages near the shore, sprawling estates on the Sakonnet, working farms, a winery, golf, and beautiful beaches. You won't find strip malls, supermarkets, factories or large businesses.
Little Compton Agricultural Conservancy Trust
Buyers interested in Little Compton need to be aware of the unusual real estate tax environment in this town. The real estate taxes are the second-lowest in Rhode Island, making this a great, low-cost place to own a home. The 2015 tax rate was $5.64 per $1,000 of assessed value.
Buying a home in the town, however, incurs a one-time tax referred to as the LCAT, which is used to fund the Little Compton Agricultural Conservancy Trust. It is calculated at 4% of the selling price of the house with some deductions, and is paid by the buyer at the closing table.
The tax rates of the surrounding communities are about three times that of Little Compton's, so after about three years, the Little Compton home buyer starts to enjoy the very low tax environment.
South Shore (Chace Point, Quicksand Pond, Tuniper Pond, Briggs Beach)
Located in the extreme southeastern corner of town, this area is mostly modest summer homes and beach cottages on smaller lots.
The southwestern corner of town contains the most expensive homes in town, the private Sakonnet Golf Club (est. 1899), the Sakonnet Point Marina and the Sakonnet Yacht Club.
The heart of Little Compton retains its small-town charm.
Located in the northern part of town, this area is heavily wooded, with expensive homes on large, private lots.
A village located at the northeastern corner of town. It has its own tiny post office and Zip Code (02801). More information and history is available here.
An area in the southeastern corner of town, north of Quicksand Pond.