Newport Buzz
Here We Go Again: Newport’s City Manager Takes Aim at Homebuyers With a New 5% Tax
Here we go again. Another big idea out of City Hall. Another policy pitched as “necessary.” Another bill sent straight to the people least able to absorb it. The latest proposal coming from City Manager Colin Kennedy would authorize a buyer-paid real estate transfer fee of up to 5%. It’s dressed up in climate and resiliency language, but the mechanics are straightforward: a massive new charge due at closing, imposed on anyone trying to buy a home in Newport. That […]
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