Rhode Island H8332 amends the real estate conveyance tax to allocate tax on multi-municipality property based on assessed value.

Rhode Island H8332 modifies the real estate conveyance tax to require allocation of tax on property located in more than one municipality based on the assessed value of the property in each municipality. The tax is imposed on each deed, instrument, or writing by which any lands, tenements, or other realty sold is granted, assigned, transferred, or conveyed. If the property is located in multiple municipalities, the tax is allocated among the municipalities in proportion to the assessed value of the property in each municipality.

Rhode Island H8332 amends the real estate conveyance tax to allocate tax on multi-municipality property based on assessed value.

Rhode Island H8332 modifies the real estate conveyance tax to require allocation of tax on property located in more than one municipality based on the assessed value of the property in each municipality. The tax is imposed on each deed, instrument, or writing by which any lands, tenements, or other realty sold is granted, assigned, transferred, or conveyed. If the property is located in multiple municipalities, the tax is allocated among the municipalities in proportion to the assessed value of the property in each municipality.