In Rhode Island, the real estate conveyance (transfer) tax rate is:
Correct Answer
B) $2.30 per $500 (or fraction thereof) of the purchase price
Rhode Island imposes a real estate conveyance tax of $2.30 per $500 (or fraction thereof) of the purchase price under RIGL §44-25, which equates to approximately $4.60 per $1,000. The tax is typically paid by the seller at closing. Certain exemptions apply, including transfers where the consideration is $100 or less. Municipalities may also impose an additional local conveyance tax in some cases.
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