Rhode Island’s “Taylor Swift Tax”: What Coastal Homeowners Need to Know

Rhode Island Property Tax · 2026

It’s nicknamed for a pop star’s Watch Hill mansion, but Rhode Island’s new second-home tax reaches far beyond the ultra-wealthy — all the way to century-old family cottages on the shoreline. If you own, or are buying, a coastal property in Rhode Island, here’s what you need to understand.

What is the “Taylor Swift Tax”?

Officially, it’s Rhode Island’s Non-Owner Occupied Property Tax (R.I. General Law § 44-72). It picked up the nickname because Taylor Swift owns a roughly $28-million oceanfront estate in Westerly’s Watch Hill — but the law itself has nothing to do with celebrities. It’s a new state-level surcharge, separate from and on top of the property tax you already pay your city or town.

The…

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2026 Rhode Island Property Tax & Mill Rate Report

2026 Property Tax Report · Rhode Island

The list price tells you what a home costs to buy. It says nothing about what it costs to own — and in Rhode Island, that second number swings hard from one town to the next. The same home can cost three times as much to hold depending on which side of a town line it sits on.

The number most buyers never check

Everyone shopping for a home watches the price. Far fewer ask the question that actually sets the monthly payment: what’s the property tax? In Rhode Island, that answer comes from your town’s tax rate — the dollars…

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The Seaport Multifamily Brief Issue #2 | March 2026

The Seaport Multifamily Brief

Issue #2 | March 2026

Coastal Connecticut & Southern Rhode Island

Powered by CoStar Data and Seaport Due Diligence

Primary market statistics sourced from CoStar Search Analytics (March 2026 reports). Interpretation and underwriting commentary are proprietary to Seaport Commercial.

Executive Summary

Coastal multifamily fundamentals remain tight, but the market is becoming more selective. Vacancy stays relatively low across the region, rent growth varies by county, and cap rates appear to be stabilizing. In this environment, our view remains simple: Do the Math—and let the math tell you what to do.

Featured Listing Spotlight is included below and uses county-level CoStar benchmarks for context.…

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Connecticut’s Transfer Act Is Ending — Here’s How It Changes Commercial Real Estate

Connecticut’s Transfer Act Is Changing — What It Means for Commercial Real Estate

For decades, Connecticut’s Transfer Act has been one of the most significant — and often misunderstood — factors shaping commercial real estate transactions. It has delayed deals, added uncertainty, and in some cases stopped otherwise viable transactions from ever getting to the closing table.

That is about to change. Connecticut is officially sunsetting the Transfer Act and replacing it with a fundamentally different framework. This shift will reshape how environmental risk is evaluated, negotiated, and managed in commercial real estate going forward.

A Quick Refresher: How the Transfer Act Worked

Under the Transfer Act, certain commercial and…

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Seaport Commercial Closes the Sale of 131 Boston Post Road in East Lyme, CT for $2,125,000

Seaport Commercial Closes the Sale of 131 Boston Post Road in East Lyme, CT for $2,125,000

A Proven Strategy for Value and Stability in Healthcare Real Estate

Seaport Commercial is proud to announce the successful sale of 131 Boston Post Road in East Lyme, Connecticut — a 13,288-square-foot, multi-tenant medical office building that exemplifies the strength and stability of the healthcare sector. The property sold for $2,125,000, reinforcing investor confidence in medical office assets and Seaport’s ability to connect clients with high-performing investment opportunities.

About the Property

This professionally managed, multi-tenant building is anchored by an established mix of long-term healthcare tenants, including Resolute Dental…

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Off-Market Investment Opportunity: Fully Leased Medical/Retail Center

Investors seeking long-term stability with built-in upside — this one’s for you.

An exceptionally well-positioned multi-tenant property is quietly being offered off-market for a limited time. The asset features a mix of medical and professional tenants, all operating under NNN-style leases, with strong rent growth, reimbursement structures, and renewal options in place.

Property Highlights:

• 92.3% Occupied with seasoned, service-based tenants in healthcare and professional industries

• Stabilized Net Operating Income: $167,500 (after vacancy, reserves, and management fee)

• Tenants Reimburse ~85.5% of Expenses, minimizing landlord exposure

• Capital Improvements Completed: New roof, full HVAC replacement,…

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Washington County, RI Multifamily Market: Key Insights and Opportunities

The multifamily real estate market in Washington County, RI has shown a solid upward trajectory in recent years, marked by rising rents and high occupancy rates. This trend continues to benefit investors, with strong demand driving the market forward. Let's dive into the most important data points shaping the Washington County multifamily landscape.

Consistent Rent Growth

Since 2020 Q1, average rents per unit in Washington County have grown significantly, from $1,534 to $1,998 by 2024 Q4 QTD, representing an overall increase of roughly 30.2% in under five years. This equates to an annual growth rate of 5.1%, which demonstrates the region’s robust rental market.

• 2024 Outlook: The forecast indicates continued growth, with projected rents…

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New London County Multifamily Market: A Snapshot of Growth and Opportunity

The multifamily real estate market in New London County continues to show strong momentum, with consistent rent growth and high demand. Since 2020, the market has seen significant appreciation, driven by a combination of tight supply, increasing demand, and limited new construction. As we look forward, the data points to continued strength in the multifamily sector, making it a prime area of opportunity for investors and property owners alike.

Let’s dive deeper into the numbers and trends shaping this market.

Steady Rent Growth Since 2020

One of the most notable trends in New London County’s multifamily market has been the steady increase in rent prices. Back in 2020 Q1, the average rent per unit was around $1,293. Fast forward to 2024 Q4,…

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2024 Rhode Island Commercial Mill Rates by Town

Tax rates, even within a state, are not universal! In Rhode Island, commercial mill rates or tax rates differ compared to residential rates in many towns, but are the same in others. Based on the 2024 data, the average residential property tax for the 39 municipalities in Rhode Island is approximately 14.35, while the average for commercial property is about 20.37. Interestingly, 27 of the municipalities have a higher commercial rate! Why is there this discrepancy? What do some towns provide that makes the mill rate different?

A higher commercial tax rate often reflects the higher level of services available within the area. This discrepancy might also indicate the degree of reliance on property tax within the municipality. Tax rates tend to be…

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2024 CT Mill Rates

Connecticut's real estate taxes can vary greatly depending on the municipality and districts within them.  The graphic above illustrates the base rates for each town. Additional rates are applied to specific locations where services are provided.  These services can include public water, sewer, trash removal,  police services, or a firehouse.  A town or district with a lower Mill rate may not offer these services.  Your real estate agent will be able to help you to determine the services offered and their importance to you when purchasing real estate. The average property tax rate in CT for 2024 is $28.93, with the highest being Hartford at $68.95 and the lowest being Salisbury at $11. 

How to Calculate Connecticut Property Taxes

The…

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