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RI S2450
Bill
Status
2/6/2026
Primary Sponsor
Meghan Kallman
Click for details
AI Summary
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Real estate conveyance tax on properties spanning multiple municipalities must be allocated proportionally based on the assessed value of the property located in each municipality
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Applies to the base conveyance tax rate of $3.75 per $500 of purchase price on transactions exceeding $100
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Also applies to the additional tax on residential properties sold for over $800,000, which adds another $3.75 per $500 on the amount exceeding that threshold
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The $800,000 threshold for the additional residential tax will be adjusted annually for inflation starting January 1, 2026, based on the Consumer Price Index (CPI-U)
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Takes effect upon passage
Legislative Description
Requires that the tax imposed upon the conveyance of any real property that is located in more than one municipality to be allocated between or among the municipalities in proportions to the assessed value of the property located in each municipality.
Taxation
Last Action
Introduced, referred to Senate Finance
2/6/2026