Michael “Lou” Riley RI House · District 41
Issues / Taxes & Fiscal Responsibility

Taxes & Fiscal Responsibility

Scituate families and small businesses are being taxed at the closing table, at death, and on the assessment roll.

As a real estate attorney, Lou sees Rhode Island's rising tax burden up close — not as abstract policy, but as numbers on a settlement statement. Three changes in particular are worth every homeowner's attention:

Real Estate Conveyance Tax ("Tax Stamps")

Rhode Island's real estate conveyance tax rose 63%, from $2.30 to $3.75 per $500 of consideration, effective October 1, 2025, under R.I. Gen. Laws § 44-25-1. That's a direct hit on every Rhode Islander who buys or sells a home.

Estate Tax

Rhode Island's estate tax threshold is $1,838,056 for 2026 under R.I. Gen. Laws § 44-22-1.1, is not portable between spouses, and carries a top rate of 16%. Family farms, businesses, and multi-generational property in Scituate can be swept into this tax more easily than families expect.

Non-Owner-Occupied Property Tax

A new surcharge applies to non-owner-occupied residential property assessed over $1 million, enacted via R.I. Gen. Laws § 44-72-1 et seq. and effective July 1, 2026. It exempts properties rented 183 or more days per year. The concern for Scituate is the assessment trend: a threshold that is not indexed catches more property every year that values rise, including family land and inherited homes that were never the intended target.

Small Business & Cost of Living

Rhode Island's tax and regulatory climate makes it harder than it should be for Scituate's shop owners, contractors, and family businesses to grow. Lou will push for fiscal policy that lets small businesses breathe rather than piling on new taxes and red tape.

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Frequently Asked Questions

It rose 63%, from $2.30 to $3.75 per $500 of consideration, effective October 1, 2025, under R.I. Gen. Laws § 44-25-1.

$1,838,056 for 2026 under R.I. Gen. Laws § 44-22-1.1. The exemption is not portable between spouses, and the top rate is 16%.

Non-owner-occupied residential property assessed over $1 million, under R.I. Gen. Laws § 44-72-1 et seq., effective July 1, 2026 — with an exemption for properties rented 183 or more days per year.