Barstool Sports founder Dave Portnoy, who identifies as a “Swiftie,” is openly criticizing what’s being called the “Taylor Swift Tax.”
This proposed legislation in Rhode Island targets owners of luxury second homes valued over $1 million, imposing hefty annual fees that could reach six figures.
“We don’t like that tax, Stuart,” Portnoy remarked during an appearance on “Varney & Co.” Though he doesn’t own a home in Rhode Island, he mentioned it’s close enough that he’s wary of states getting such ideas.
In 2013, Swift offloaded her mansion in Watch Hill, Rhode Island, for about $17 million. If the tax goes through, she could face an extra $136,000 in annual taxes due to the property’s value.
Swift owns several homes around the U.S., including properties in New York City, Beverly Hills, Nashville, and Rhode Island.
As a Nantucket resident, Portnoy has voiced concern over the proposed tax, playfully hoping that New England doesn’t adopt it.
He joked, “If they name the tax after me in Massachusetts, I’d be a little too proud,” adding that he could see himself paying a significant fee just for the honor.
Portnoy, who owns homes in Miami, Saratoga Springs, Montauk, and Nantucket—where he recently purchased a waterfront estate for a record $42 million—is currently content with his four residences.
“I don’t really look for more places. I spend a lot of time at home,” he wrapped up.
