· RI legislature · 2025

AN ACT RELATING TO TAXATION -- REAL ESTATE CONVEYANCE TAX

Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.

Sponsor

Terri Cortvriend (D-RI)

Introduced

2025-02-26

Policy area

Taxation

Latest action

05/13/2025 Committee recommended measure be held for further study