The legislation (2022-H 8182, 2022-S 2898A) which is specific to only Newport, allows the city to establish two residential tax rates: one for owner-occupied housing, and one for housing that is not owner-occupied.
“As we know, our whole state and Newport especially are deep in an affordable housing crisis, and residential property tax relief is one tool to help address affordability. We applaud our local officials, particularly the Tax Relief Committee, for their work in developing this idea. Vacation rentals and short-term rentals take away from year-round housing, and while they do provide revenue, they contribute to our city’s housing crisis. Making a distinction between them will give residents the tax relief they need, and encourage property owners to create and maintain the permanent housing we desperately need,” said Senator Euer (D-Dist. 13, Newport, Jamestown).