Rhode Island taxes property sales through its real estate conveyance tax, does not require an attorney at closing and requires a seller disclosure form. It allows both court and out-of-court foreclosure and is not a community property state.
Rhode Island in short
Is there a real estate transfer tax in Rhode Island?
Rhode Island taxes real estate sales through its conveyance tax of $3.75 for each $500 of the price, or part of it, which is $3,000 on a $400,000 home. Unless the parties agree otherwise the seller pays, and residential sales above $800,000 owe a second layer.
Full Rhode Island guide · Compare all 50 states
What closing costs does Rhode Island law set?
Rhode Island has no official typical closing-cost total. The conveyance tax is $3.75 per $500 of price ($3,000 on a $400,000 sale), paid by the seller unless the contract says otherwise, and recording a warranty deed costs $80 and a mortgage $60.
Full Rhode Island guide · Compare all 50 states
How is property tax calculated in Rhode Island?
In Rhode Island each city or town assesses and taxes property. Providence's 2025 rate is $8.40 per $1,000 of assessed value for an owner-occupied single-family home ($14.60 non-owner-occupied), or $3,360 a year on a $400,000 assessment. To appeal, file with the local assessor on or before November 15 (R.I. Gen.
Full Rhode Island guide · Compare all 50 states
What is the deadline to appeal a property tax assessment in Rhode Island?
In Rhode Island, file your assessment appeal with the local assessor on or before November 15 and not less than 90 days after the first tax payment is due (R.I. Gen.
Full Rhode Island guide · Compare all 50 states
Do you need a real estate attorney to close in Rhode Island?
The Rhode Island statutes read do not say a buyer or seller must hire an attorney to close on a home, though the practice of law includes drafting instruments usually prepared by attorneys (R.I. Gen. Laws 11-27-2) and the Title Insurers Act describes closings run by title insurance agents.
Full Rhode Island guide · Compare all 50 states
What must a home seller disclose in Rhode Island?
A Rhode Island seller must give the buyer a written disclosure of all known deficient conditions before any agreement to transfer is signed (R.I. Gen. Laws 5-20.8-2). A violation does not void the sale but carries a civil penalty of up to $1,000 per violation by a seller or agent.
Full Rhode Island guide · Compare all 50 states
How does foreclosure work in Rhode Island?
A Rhode Island mortgage that includes the statutory power of sale lets the lender sell the home at a public auction without a court case.
Full Rhode Island guide · Compare all 50 states
What first-time home buyer programs does Rhode Island offer?
In Rhode Island, RIHousing offers three down payment programs for first-time buyers: 15kDPA, a $15,000 zero-interest loan. Extra Assistance, up to $20,000. And FirstGenHomeRI, $25,000 that is forgiven after five years. Each requires a RIHousing first mortgage and a homebuyer education course.
Rhode Island guides
- Closing costs in Rhode Island: what buyers and sellers pay
- Rhode Island real estate conveyance tax: rate and who pays
- How Rhode Island property tax works: rates and appeals
- Seller disclosure requirements in Rhode Island
- Do you need a real estate attorney to close in Rhode Island?
- Foreclosure process in Rhode Island
- Home prices in Rhode Island and Providence: median value
- First-time home buyer programs in Rhode Island
- How to verify a real estate license in Rhode Island