Wealthy Homeowners Face New Tax Hikes Amid Rising Backlash
TL;DR Summary
Rhode Island has introduced a new 'Taylor Swift Tax' on luxury second homes valued over $1 million that are unoccupied more than half the year, significantly increasing property taxes for owners like Taylor Swift, whose estate's bill could rise to approximately $337,000 annually. The tax aims to fund local services and address housing issues, but critics argue it unfairly targets wealthy homeowners.
- Taylor Swift’s Rhode Island Mansion May Soon Cost Her $337K a Year — Thanks to the New ‘Taylor Swift Tax’ yahoo.com
- Rhode Island's 'Taylor Swift Tax' on vacation homes of the wealthy is spreading to other states CNBC
- States target wealthy homeowners with new property taxes, sparking backlash Seeking Alpha
- Wealthy Cape Cod residents racing to sell their mansions over proposed 'Taylor Swift tax' style duty Daily Mail
- Taylor Swift Puts Her Fortune at Risk if She Forgoes a Prenup news.bloombergtax.com
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