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Wealth Advisor
Wealth Advisor

‘Taylor Swift Tax’ Won’t Hit Just the Kelces

Rhode Island seems to target the ‘All Too Wealthy’ but plunders the middle class.

“You belong with fees.” That’s how Americans for Tax Reform sums up the message from Rhode Island Democrats to America’s most famous newlyweds. Adding to the bad blood, residents subject to new Ocean State taxes are far less wealthy than Mr. and Mrs. Kelce.

Tim White reported for CBS affiliate WPRI in Providence at the start of this month:

A new tax on high-end Rhode Island homes that sit empty for most of the year took effect Wednesday, affecting thousands of property owners across the state.

Rhode Island’s “Non-Owner Occupied Property Tax,” known better as the “Taylor Swift tax” because of the pop star’s Watch Hill estate, is a new state-level tax on residential properties assessed at more than $1 million that aren’t occupied by the owner or a tenant for at least 183 days a year.

The tax is charged at a rate of $2.50 for every $500 of assessed value above $1 million, on top of the property taxes owners already pay to their city or town. For example, Swift’s mansion, known as “Holiday House” or “High Watch,” is assessed at more than $28 million, according to Westerly land records.

No doubt the Democrats who have run the state for years are happy if anyone gets the impression that only billionaire pop stars will pay. Mr. White reports:

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