Section 6 – Real Estate Section 15 – State Property Tax
嚜燙taff Presentation to the House Finance Committee
April 7, 2015
1
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Section 3 每 Distribution and Allocation
of State Hotel Tax
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Sections 3, 4, and 8 每 Expansion of
Hotel Taxes
?
Section 6 每 Real Estate
Conveyance/Controlling Interest
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Section 15 每 State Property Tax
2
1
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Hotel room rental subject to
occupancy taxes:
? Sales Tax 每 7.0%
? General Fund
? State Hotel Tax 每 5.0%
? General Fund, municipalities, regional tourism
districts, and Providence/Warwick CVB
? Local Hotel Tax 每 1.0%
? Municipalities
? Not impacted by Governor*s proposal
3
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State has 4 Shared regional districts
South County
Charlestown
Coventry
East Greenwich
Northern RI
Burrillville
Central Falls
Cumberland
Aquidneck
Island
Barrington
Glocester
Bristol
Jamestown
Lincoln
Little Compton
North Kingstown
North
Smithfield
Middletown
Richmond
Pawtucket
Exeter
Hopkinton
Narragansett
South Kingstown
Smithfield
West Greenwich
Westerly
Woonsocket
Newport
Portsmouth
Statewide
Cranston
Foster
Johnston
North
Providence
West Warwick
Warren
4
2
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3 municipalities have own districts
Warwick
Providence
Block Island
(New Shoreham)
?
Current law divides state into 8 districts
? East Providence is unique case
? Not in shared district
? Division of Taxation holding district share until it
joins district
5
Room Rental from Hotel
Room Charge
Sales Tax 每 General Fund
Hotel Tax 每 Multiple Recipients
Local Hotel Tax - Municipality
Total Charge to Occupant
Total Taxes Collected
$150.00
$10.50
$7.50
$1.50
$169.50
$19.50
6
3
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Distribution 每 Current Law
Districts
Prov./Wwck
CVB
Cities &
Towns
General
Fund*
Warwick
31.0%
23.0%
25.0%
21.0%
Providence
31.0%
23.0%
25.0%
21.0%
Statewide*
[47.0%]
7.0%
25.0%
68.0%
Aquidneck
Island
47.0%
7.0%
25.0%
21.0%
All Other
47.0%
7.0%
25.0%
21.0%
Region
7
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Example - $150 Hotel Room
? State 5.0% Hotel Tax - $7.50
Districts
Prov./Wwck
CVB
Cities &
Towns
General
Fund*
Warwick
$2.32
$1.72
$1.88
$1.58
Providence
$2.32
$1.72
$1.88
$1.58
Statewide*
[$3.52]
$0.52
$1.88
$5.10
Aquidneck
Island
$3.52
$0.52
$1.88
$1.58
All Other
$3.52
$0.52
$1.88
$1.58
Region
8
4
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FY 2016 Proposal 每 Fund state tourism
and marketing campaign
? Decreases shares for 6 of 7 districts
? Aquidneck Island district left whole
? General Fund share to Commerce Corp.
? Budget includes $5.5 million for state campaign
? Increases Commerce Corp. share
? Proportional to decreases to regional districts
? Districts must incorporate state campaign to
receive share
9
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Proposed Distribution 每 FY 2016
Districts
Prov./Wwck
CVB
Cities &
Towns
Commerce
Corp.*
Warwick
15.0%
23.0%
25.0%
37.0%
Providence
15.0%
23.0%
25.0%
37.0%
Statewide
-
7.0%
25.0%
68.0%
Aquidneck
Island
47.0%
7.0%
25.0%
21.0%
All Other
25.0%
7.0%
25.0%
43.0%
Region
*General Fund share to Commerce Corporation
10
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