RI H8194

Amends the Real Estate Conveyance Tax to clarify that the additional tax on residential property sales exceeding $800,000 shall be paid to the same municipalities as the base conveyance tax

The $800,000 threshold for the additional residential property tax will be adjusted annually for inflation beginning January 1, 2026, based on the Consumer Price Index (CPI-U)

Inflation adjustments will be compounded annually, rounded up to the nearest $5.00 increment, and the threshold can never decrease below the prior year's amount

Takes effect upon passage