Overview

• Starting in October, Rhode Island will add a surcharge on non-primary residences valued above $1 million, charging $2.50 for every $500 over that threshold.
• The levy would add about $136,442 to Taylor Swift’s Watch Hill property, raising her estimated annual tax to roughly $337,442.
• Rhode Island will also increase its conveyance tax on high-end sales in October by $3.75 for each $500 paid above $800,000.
• Montana approved a two-tier property-tax system set for next year that the state projects will raise second-home taxes by an average of 68%.
• Brokers report paused purchases and interest shifting to nearby states as experts caution that revenues may lag, citing Los Angeles’ mansion tax raising $785 million after more than two years.