Allows the city of Providence to impose an additional conveyance tax of three quarters of one percent (0.75%) on sale of any real property in excess of one million dollars ($1,000,000).
Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.