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    Newport City Hall as City Council considers a buyer-paid 5% real estate transfer tax

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    Newport City Hall as City Council considers a buyer-paid 5% real estate transfer tax

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    Newport City Hall as City Council considers a buyer-paid 5% real estate transfer tax

    Here We Go Again: Newport’s City Manager Takes Aim at Homebuyers With a New 5% Tax

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Here we go again. Newport City Hall is floating a Here we go again. Newport City Hall is floating another sweeping policy idea, and once again the cost lands on the people least able to absorb it. The proposal from City Manager Colin Kennedy would add a buyer-paid real estate transfer fee of up to 5%. Strip away the branding and the mechanics are simple: a large cash charge due at closing. That’s no small thing in a city where affordability is already stretched thin. As of Dec. 31, 2025, Newport’s median list price stood at $1.265M, according to Zillow. That’s just the starting point. Buyers already need cash for a down payment, inspections, lender fees, and closing costs. Now add a 5% city tax. On a median-priced home, that’s more than $63K in cash, due at closing. Not financed. Not spread out. Pay it — or don’t buy. If payment is delayed or disputed, the proposal allows interest and penalties, secured by a lien on the property. Supporters point to an owner-occupant exemption, but it comes with a major catch: buyers must remain owner-occupied for five consecutive years. Miss that requirement — because of a job move, illness, divorce, renovation delays, or financial hardship — and the fee becomes due anyway, plus interest and penalties. That’s not relief. It’s a five-year compliance trap, with real consequences for refinancing, resale, and title clearance. City Hall says this is about protecting the coastline. But the funding model raises an obvious question: Why should working-class Newporters, young families, and seniors on fixed incomes be asked to write a five-figure check at closing — and live under a five-year residency rule — to help protect multimillion-dollar waterfront properties? The people scraping together a down payment aren’t the ones with private seawalls and seven-figure equity cushions. Yet they’re the ones being asked to shoulder the cost — and the risk. Bottom line: With a $1.265M median list price, buying in Newport is already hard. Adding a buyer-paid fee of up to 5%, backed by liens, penalties, and a five-year residency requirement, doesn’t make the city stronger. It makes it harder to live here. Here we go again. **comment below and we’ll send you the full article**
Tucked away at the very end of coveted Coast Guard Tucked away at the very end of coveted Coast Guard Avenue within the Green Hill Beach Association, 37 Coast Guard Avenue offers a rare and deeply evocative coastal experience—one that captures the soul of a classic Rhode Island summer. Facing south and drenched in natural light from sunrise to sunset, the home commands sweeping 180-degree views of Block Island Sound, the Point of Galilee, and the Charlestown Breachway. Salt air, rolling waves, and an endless horizon set the tone for days that unfold slowly and evenings that linger well into the night. Built in 2008, the residence spans approximately 4,835 square feet and features four bedrooms, three full baths, and one half bath. Designed with both comfort and togetherness in mind, the home offers exceptional additional living spaces, including a large bonus room above the oversized two-car garage and an expansive recreation or bunk room—ideal for hosting generations under one roof and creating memories that last a lifetime. Life here revolves effortlessly around the beach. Days are spent along the association shoreline, rinsing sandy toes in the outdoor shower, gathering for beach bonfires, and watching fireworks illuminate the sky each Fourth of July. A private yard, fenced area for pets, and water-facing decks on all three levels provide endless places to pause, breathe, and take in the view. Inside, the home balances relaxed luxury with thoughtful functionality. A first-floor primary suite offers ease of living, while a dedicated home office provides a quiet retreat. Throughout, the design honors the rhythm of coastal living—uncomplicated, welcoming, and deeply connected to its surroundings. This is a rare opportunity to own a beach home of enduring quality in one of Rhode Island’s most beloved seaside enclaves—where ocean breezes, long summer evenings, and timeless traditions await. 37 Coast Guard Avenue, South Kingstown, RI 4 Bedrooms | 3 Full Baths | 1 Half Bath 4,835 Sq. Ft. | 0.49 Acres Offered by the Soby Roberts Team (@bridgette_soby | @garyroberts5497) of Mott & Chace Sotheby’s International Realty (@mottandchace) for $5,997,000
Happy Thursday, January 22nd! Here’s What’s Happen Happy Thursday, January 22nd! Here’s What’s Happening In and Around Newport Today. @newport.mansions @newportcannaco @sardellas_Italian @sardellas @nikolaspizza @wharfsouthernkitchen @hookednewport @tavernonbroadway @ticketsnewport @thequenchernewport #NewportRI #NewportBuzz
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