Dave Portnoy slams Rhode Island luxury home tax proposal dubbed Taylor Swift tax

Barstool Sports founder Dave Portnoy is speaking out against a proposed Rhode Island tax targeting luxury second homes — a measure now being referred to as the "Taylor Swift tax."

The bill aims to impose annual fees on second homes valued above $1 million, potentially costing homeowners up to six figures each year. Although Portnoy doesn’t own property in Rhode Island, he voiced concern on Fox Business’ “Varney & Co.,” noting that he has homes nearby and doesn’t want other states to follow suit. “We don’t like that tax, Stuart,” he said, half-joking. “So, I don’t like those states getting the ideas.”

The tax has earned its nickname due to pop star Taylor Swift, who purchased a $17 million mansion in the exclusive Watch Hill neighborhood in 2013. If the law passes, Swift could face an extra $136,000 in taxes annually. She owns several properties across the U.S., including in Beverly Hills, Nashville, and New York City.

Portnoy, who owns luxury homes in Nantucket, Miami, Montauk, and Saratoga Springs, joked that while he’s against the tax, he might accept a Massachusetts version named after him. “If they name the tax in Massachusetts ‘the Dave Portnoy tax,’ my ego may let that slide,” he quipped.

Despite the controversy, Portnoy says he’s content with his real estate portfolio for now. “I use my houses quite a bit,” he concluded. Rhode Island lawmakers have yet to finalize the legislation, but the proposal is already sparking fierce debate among property owners and public figures alike.