What is the Taylor Swift tax proposed in Rhode Island? Bill proposal explained

The Taylor Swift tax has been included in the list of the latest budget proposals by officials of Rhode Island. A report by the Daily Mail on June 21, 2025, stated that the second houses owned by the residents of the place will be targeted due to the proposed bill, which is already leading to a lot of criticism.

According to The Hill, the Taylor Swift tax will include additional charges for houses priced at around $1 million. This will lead to an increase in taxes since the annual fee would be $2.50 for every $500 of the value of a particular property.

The charges will also be applicable for the Watch Hill estate in Rhode Island, owned by Swift. The property was purchased more than 10 years ago and was established back in 1904.

Furthermore, the new bill is also supposed to increase a seller’s fee by around 63%, which will impact the sellers and the people purchasing a particular house. This also means that certain properties will not remain affordable for people.

Meanwhile, Chris Whitten, president of the Rhode Island Association of Realtors, expressed concern for the consequences that would emerge as a result of the proposal. He addressed his worries while appearing for an interview with NBC 10 News and said:

“Please, don’t take from our housing market at the moment to balance the budget for other items, it’s going to be detrimental.”

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Taylor Swift tax was approved by the Rhode Island House around a week ago

While the Taylor Swift tax has been proposed recently, it was approved by the state House of Representatives on June 17, 2025, as per a report by Straight Arrow News. The bill was approved with a vote of 66-9.

Notably, the bill will provide two choices for the residents of Rhode Island with two houses. This includes residing in the particular property for half of the year or renting it for the rest of the year so that it does not remain vacant for a long time.

The supporters have also claimed that the bill will contribute to bringing revenue for building houses for people with low incomes.

Larry Burns, a realtor for Watch Hill, also spoke to the Daily Mail about the negative impact of the Taylor Swift tax on those who don’t have a higher income. Burns mentioned that the proposal will also impact anyone whose properties are owned by their family members.

Furthermore, Burns referred to how people would prefer to purchase properties in other places, such as Massachusetts, instead of Rhode Island, as he continued:

“Rhode Island economy for the most part is driven by tourism, especially in all in New England especially coastal state like Rhode Island. And it’s really going to discourage people from buying second homes here because of the added expense.”

Burns stated that the proposal might force certain families to let go of the properties rightfully owned by them. He said that a few properties have been inherited by the siblings of a particular family, and the new proposal could lead to the sale of such properties since people “can’t keep up with the cost.”

As per the latest update, Dave Portnoy, known as the founder of Barstool Sports, has criticized the Taylor Swift tax while speaking on Varney & Co. on June 22, 2025, saying that he does not like such kind of taxes, adding that he has got a few houses located close to Rhode Island.

Notably, Taylor Swift is yet to share her reaction to the newly proposed tax.

Edited by Prem Deshpande