Rhode Island DOR Proposes Regulation Establishing Non-Owner-Occupied Property Tax

The Rhode Island Department of Revenue (DOR) has proposed a new regulation implementing the Non-Owner-Occupied Property Tax, which would impose a statewide tax on residential properties valued at $1 million or more that are not occupied by their owners for at least 183 days during the privilege year. The tax, set at $2.50 per $500 of assessed value exceeding the $1 million threshold. The rule would take effect for tax years beginning on or after July 1, with exemptions available for properties rented for 183 days or more during the privilege year. The proposal includes provisions for tax payments, property ...