Enables the city of Newport to impose a nine percent (9%) amusement tax on the sale of certain amusement ticket sales.
Enables the city of Newport to impose a nine percent (9%) amusement tax on the sale of certain amusement ticket sales.
Reduces the sales tax from seven percent (7%) to six and one-half percent (6 ½%).
Increases the net taxable estate exemption to three million six hundred thousand dollars ($3,600,000) on January 1, 2025. Also increases the exemption by one million dollars ($1,000,000) on January 1 per year thereafter.
Imposes a tax of five percent (5%) upon the rental of a house or condominium. The funds from the tax to be used exclusively for infrastructure improvements, riverine and coastal resiliency and housing.
Amends the capital gains tax rates and holding period from 5 years to 1 year. Imposes a non-owner occupied tax on homes assessed at more than $1,000,000.
Amends the capital gains tax rates and holding period from 5 years to 1 year. Imposes a non-owner occupied tax on homes assessed at more than $1,000,000.
Requires an appropriation of an additional five percent (5%) of the assessed value of all low-income housing as part of the payment in lieu of taxes program to the municipality where the property is located beginning in fiscal year 2026.
Imposes an additional local hotel tax in the city of Newport, at a rate of two and one-half percent (2.5%) to be retained and used for its public infrastructure and resiliency purposes.
Imposes an additional local hotel tax in the city of Newport, at a rate of two and one-half percent (2.5%) to be retained and used for its public infrastructure and resiliency purposes.