Newport’s Property Tax Loophole: Some Landlords Pay $0 in Property Tax While Neighbors Pay Thousands

Newport’s Property Tax Loophole: Some Landlords Pay $0 in Property Tax While Neighbors Pay Thousands

Newport Buzz Newport’s Property Tax Loophole: Some Landlords Pay $0 in Property Tax While Neighbors Pay Thousands A quirk in Newport’s property tax system is allowing some condo owners to pay nothing in property taxes — even while collecting thousands of dollars a month in rent. The issue stems from the city’s two-tier property tax program, which exempts a large portion of a home’s assessed value before taxes are calculated. Right now, that exem…