Curious as to why ‘Taylor Swift Tax‘ is trending? This comes after a new tax proposal in Rhode Island, which has sparked widespread discussion online. The proposal is part of the state’s 2026 budget plan. It could result in a significant annual tax for Swift if the bill is passed.
Here are more details.
‘Taylor Swift Tax’ trend explained
The phrase ‘Taylor Swift Tax’ has taken over headlines and social media as Rhode Island considers a new proposal that could significantly impact the pop icon’s real estate.
It is due to the state’s 2026 budget plan, which includes a newly proposed measure called the “Non-Owner Occupied Property Tax Act.” This legislation would place an annual tax on high-value homes that aren’t used as a primary residence. Due to Swift’s oceanfront mansion in Watch Hill, the bill is informally referred to as the “Taylor Swift Tax.”
If passed, the act would tax luxury properties worth more than $1 million at a rate of $2.50 per $500 of assessed value. Based on her home’s current market value, Swift could be required to pay an estimated $135,500 in yearly taxes. Though she purchased the home for $17 million in 2013, its value has steadily increased over the years.
Earlier this month, the Rhode Island House Finance Committee voted to approve the budget. It includes this measure, moving it forward for consideration by the full House. If passed, the tax would take effect officially on July 1, 2026. As outlined in the bill, it would apply to all residential properties valued over $1 million that their owners do not occupy for the majority of the year.
The growing buzz around the tax bill further increased when human remains were discovered on Swift’s property. On June 13, South Kingstown Police confirmed that the body of 31-year-old Eric Wein had washed ashore on Swift’s private property on May 14.
As of June 27, the measure remains under review by Rhode Island’s House of Representatives.
Originally reported by Disheeta Maheshwari on ComingSoon.
