🚨ATTENTION RHODE ISLAND HOMEOWNERS and BUYERS🚨

If you’re planning to move in 2026, you need to have this on your radar. The Rhode Island real estate landscape just shifted, and it’s going to affect your bottom line starting October 1, 2025.

As someone who has navigated the Ocean State market for over 25 years, I’ve seen plenty of changes, but this 63% increase in the Real Estate Conveyance Tax is one of the most significant hits to closing costs we’ve seen in a long time.

? What’s Changing?
The state has officially increased the conveyance tax (the tax paid at the time of sale, typically by the seller) to fund housing initiatives. Here is the breakdown:

The New Baseline: The rate is jumping from $2.30 per $500 of the sale price to $3.75 per $500.

The “Luxury” Tier: For residential sales over $800,000, there is an additional tax of $3.75 per $500 on the amount exceeding that threshold.

When? This applies to all closings on or after October 1, 2025.

? What does this look like in dollars?
Let’s look at a standard $500,000 home sale:

Old Tax: $2,300

New Tax: $3,750

That’s an extra $1,450 out of your pocket at the closing table.

For a $1,000,000 home, the impact is even steeper, jumping from roughly $4,600 to $9,000 in taxes.

? Why this matters for YOU:
Sellers: Your net proceeds just took a hit. If you’ve been on the fence about listing, closing before October 1st could save you thousands. Buyers: While sellers traditionally pay this tax, it affects your negotiating power and the overall “cost to play” in this market. Plus, budget for those 2026 changes coming to short-term rentals and high-value non-owner-occupied homes!

The Bottom Line: Don’t let these numbers catch you by surprise at the eleventh hour. Strategy is more important now than ever.

Questions on how this affects your specific home value? Drop a comment below or send me a DM. Let’s make sure your 2026 real estate goals stay on track! ?

Visit my website at: https://www.anastasiakaufman.com/

Here’s my Facebook Account: https://www.facebook.com/AnastasiaRealtor/

Anastasia Kaufman, GRI,ABR,SFR,CDPE,SRS

Cell: 401-338-2749

Email: Anastasia@anastasiakaufman.com