Dave Portnoy Slams Proposed ‘Taylor Swift Tax’ as Threat to Luxury Homeowners Like Himself

Barstool Sports founder and self-proclaimed “Swiftie” Dave Portnoy has voiced strong opposition to a new tax proposal in Rhode Island, dubbed the “Taylor Swift tax.” The proposed legislation would impose steep annual fees on luxury second homes valued over $1 million, which could reach six figures. Though Portnoy does not own property in Rhode Island, he expressed concern that nearby states—where he does own homes—might adopt similar tax measures.

Swift’s Rhode Island Mansion Sparks Controversy Over Proposed Luxury Homeowner Tax Plan

The tax has been unofficially linked to pop icon Taylor Swift, who purchased a $17 million mansion in Watch Hill, Rhode Island, in 2013. Due to the high valuation of the property, Swift could face an additional $136,000 annually if the proposed law passes. This connection has earned the legislation its nickname, despite not being specifically targeted at the singer. Swift owns several other properties across the U.S., including in New York City, Beverly Hills, and Nashville.

Although Portnoy doesn’t own Rhode Island property, his luxury real estate holdings in nearby states—such as Massachusetts—are vulnerable if the tax trend spreads. He specifically mentioned his Nantucket estate, raising concerns that Massachusetts lawmakers might consider similar taxation. Jokingly, he added that if a tax were named after him in Massachusetts, he might take it as a compliment, referencing his massive home purchases and inflated ego.

Portnoy’s Luxury Properties Could Face Hefty Costs Under New Tax Proposals

Portnoy’s concerns are grounded in his extensive real estate portfolio. In 2023, he made headlines by purchasing a waterfront estate in Nantucket for $42 million, setting a record for both the island and the state of Massachusetts. He also owns homes in Miami, Montauk, and Saratoga Springs. Given the significant valuations of his properties, any new tax laws modeled after Rhode Island’s proposal could cost him heavily.

Despite the looming tax concerns, Portnoy seems content with his current holdings. He stated that he uses all of his properties regularly and has no intention of purchasing additional homes in the near future. As debates continue over luxury home taxation, Portnoy remains vocal—especially when it involves policies that could affect fellow celebrities like Swift or threaten his own real estate interests.