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The Rhode Island House of Representatives approved The Rhode Island House of Representatives approved the state’s $13.9 billion budget Tuesday by a vote of 66 to 9, advancing a plan that includes two major real estate tax changes aimed at addressing the state’s ongoing housing crisis. The budget includes a new surcharge on second homes valued over $1 million—unofficially dubbed the “Taylor Swift Tax”—as well as a 63% increase in the real estate conveyance tax paid by sellers when transferring property. The so-called “Taylor Swift Tax” targets non-owner-occupied residential properties that are not used as a primary residence for at least 183 days a year. These properties would be subject to an annual surcharge of $2.50 per $500 of assessed value above the first $1 million. For example, a $3 million second home would face a $10,000 annual fee. Pop superstar Taylor Swift’s Watch Hill estate will see an additional $136,000 in yearly taxes if the measure becomes law. The second change—the increase in the conveyance tax—would affect all property sales, regardless of value. The current rate of $2.30 per $500 of sale price would rise to $3.75, a 63% hike. Proceeds from both taxes are earmarked to support housing initiatives, including the expansion of affordable housing and low-income tax credits. Supporters say the new measures will help address housing shortages, especially in communities where seasonal ownership drives up prices and reduces year-round availability. They argue that taxing high-end, often-vacant properties and home sales will provide much-needed funding to expand housing access across the state. Critics, including real estate professionals and property owners, warn the taxes could chill investment, hurt the housing market, and place financial strain on longtime families who own coastal or inherited properties. The budget now heads to the Senate, where a vote is expected in the coming days. If signed into law, the property tax surcharges would take effect in July 2026. #taylorswifttax #rhodeisland #newportbuzz #taylorswift
Happy Wednesday, June 18th! Here’s What’s Happ Happy Wednesday, June 18th! Here’s What’s Happening in and around Newport Today. @newport.mansions @bottegabocconi @bigweathergear @wharffishhouse @hookednewport @bar12newport @tavernonbroadway @thequenchernewport @adventuresinerindelle #NewportBuzz #NewportRI #rhodeisland #scenesofnewengland #newengland
The Middletown Police Department is asking for the The Middletown Police Department is asking for the public’s help in identifying a suspect involved in a breaking and entering incident that occurred last week. The break-in took place around 5:00 p.m. on Friday, June 13, at a business located in the Wyatt Square Plaza on East Main Road. Authorities have not yet released details about what was taken or the extent of the damage but are urging anyone with information to come forward. Police believe even minor tips could assist in the investigation. Anyone who may have seen suspicious activity in the area or who has any information—no matter how small—is encouraged to contact Middletown Police at (401) 846-1144 or leave an anonymous tip on the department’s Tip Line at (401) 842-6516. The investigation remains ongoing. #middletownri #newportbuzz
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