Property tax, transfer tax and closing costs in Rhode Island

Rhode Island: Real estate conveyance tax of $3.75 per $500 of consideration, or fraction thereof, on the whole price since October 1, 2025, plus a second tier of $3.75 per $500 on the part of a residential price over $824,000 (the 2026 threshold, adjusted yearly for inflation). Seller pays by statute. Statistical revaluation every three years and a full revaluation every nine years.

Reviewed October 15, 2026. Every line links its statute or official source.

What Rhode Island sets

Transfer tax: Real estate conveyance tax of $3.75 per $500 of consideration, or fraction thereof, on the whole price since October 1, 2025, plus a second tier of $3.75 per $500 on the part of a residential price over $824,000 (the 2026 threshold, adjusted yearly for inflation). Source: tax.ri.gov
Who customarily pays: Seller pays by statute. Source: tax.ri.gov
Local transfer taxes: Not stated. No official source confirmed this yet.
Reassessment cycle: Statistical revaluation every three years and a full revaluation every nine years. Source: tax.ri.gov
Homestead and other exemptions: No statewide homestead exemption. Local option homestead exemptions in cities such as Providence, Cranston and Warwick. Source: tax.ri.gov
Owner’s title policy: Not stated. No official source confirmed this yet.
How closings run: Attorney closings are customary. Source: ribar.com
Survey: Not stated. No official source confirmed this yet.
Other closing customs: Not stated. No official source confirmed this yet.

Rhode Island transfer tax on a $404,000 sale

State real estate conveyance tax, tier 1seller pays$3,030$404,000 ÷ $500 = 808 units (rounded up for any fraction) × $3.75 = $3,030
State real estate conveyance tax, tier 2 (residential, over $824,000)seller pays$0$404,000 is not over $824,000, so no tax applies

seller pays: $3,030
Total transfer tax: $3,030

Statutory transfer taxes on a $404,000 sale, as of the reviewed date. Who pays is custom and contract outside the statute’s primary liability. Local taxes described above are not in this figure unless listed as a line. Recording fees, title and attorney charges are separate.

Open the Rhode Island transfer tax calculator, with a link to share and an embed for your site.

Typical property tax in Rhode Island

Median real-estate tax paid: $4,900 a year
Per month: $408
Median owner-occupied home value: $404,200
Effective rate they imply: 1.21%

Census American Community Survey five-year file, 2020-2024, tables B25103 and B25077, owner-occupied homes. The median bill rose 15% against the 2015-2019 file. An estimate for a typical home, not yours. Your bill depends on the parcel, its exemptions and the next reassessment.

For agents

Your buyers ask what closing costs in Rhode Island and who pays. This page answers from the statute, with the date it was checked. Send it, or embed the calculator on your own site.

Ike lets a licensed real estate agent originate the mortgage on the deals they already close. Expected compensation is about 100 basis points per eligible funded loan once licensed and sponsored. Ike is preparing licenses state by state.

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One email when Rhode Island rates, exemptions or transfer taxes change, and when the next reassessment lands.

Sources

Ike Mortgage LLC. NMLS ID pending. For licensing information, go to: www.nmlsconsumeraccess.org. Nothing on this page is a loan payment, rate, term or down payment, and nothing here is a Loan Estimate.