1 Day
Source:
The Boston Globe
_1777370220974_847775619.png&w=48&q=75){kind=small}
R.I. Taylor Swift Tax Takes Effect
A family-owned cottage in Westerly, Rhode Island, built in 1909, is now subject to a new state tax aimed at high-value, non-owner-occupied properties. The law targets properties assessed at over $1 million, imposing a quarterly surcharge to fund affordable housing programs. The cottage, valued at $3.6 million, faces an annual tax of around $45,000, raising concerns among long-time owners about the broader impact on legacy homeowners and historic properties. Critics argue the law’s definitions and implementation create confusion and potential financial hardship for families with multi-generational or shared ownership.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)