Rhode Island DOR Adopts Rule on Non-Owner Occupied Property Tax

The Rhode Island Department of Revenue (DOR) adopted amendments to regulations implementing a statewide tax on non-owner occupied residential properties assessed at $1,000,000 or more. Beginning with the tax year starting July 1, 2026, property owners must occupy their residential property for at least 183 days during the privilege year or qualify for an exemption to avoid the tax. The tax rate is $2.50 for each $500 of assessed value exceeding the $1,000,000 threshold, with payments due quarterly. Exemptions apply to properties rented for 183 or more days under written lease agreements subject to the Residential Landlord and Tenant Act, ...