Celeb News: Taylor cements cultural impact, gets tax named after her

gettsleazy

Quote:

PROVIDENCE, R.I. (AP) — The governor of Rhode Island is defending a proposed luxury tax for pricey second homes that has been dubbed the “Taylor Swift tax.”

Gov. Gina Raimondo says she wants to raise nearly $12 million by implementing a statewide property tax on second homes worth more than $1 million.

Grammy winner Swift has a beachfront mansion in Westerly, Rhode Island.

Swift paid $17M for the mansion (Credit: SeabordPropertiesRE.com)

Raimondo says the tax policies she proposed in her budget will create jobs. She is seeking to eliminate a $190 million deficit while implementing no new broad-based tax changes.

SOURCE

Cultural icon cementing her legacy through the government

belindaidolos

Navyofbadgals

LadyDiana

but she still has to pay it, right? where is justice in that

Kayzan

She's all about the money.

Chucko

Quote:

Raimondo says the tax policies she proposed in her budget will create jobs. She is seeking to eliminate a $190 million deficit while implementing no new broad-based tax ~~changes~~ increases.

How does a state with ~1,052,567 people end up $190 million in debt and expect the few rich people to bail them out? 16% of the people are on food stamps. 6.5% unemployment and she thinks raising taxes is going to fix this?

Rihinvention

Quote:

Originally posted by LadyDiana

but she still has to pay it, right? where is justice in that

I think it's for new purchases, kind of like an additional stamp duty. I don't think people who already own 2nd homes worth over $1 million would have to pay it on their existing properties.

muddysquirrel

Taylor is bringing loads of money to the local community with people just coming to get a glimpse of her house. Now they want to milk her buying property there some more? She already fixed the coasline with her personal money. This is their gratitude?

Time to sell and gtfo, Lord.

Good luck with that tax! So many people will be lured to buy property now! That debt will be gone in no time!

fridayteenage

Her heart belongs to New York anyway. (Buy Welcome to New York, y'all.)

And Karlie.

Icarus

Americas Sweetheart

Chucko

Quote:

Originally posted by Rihinvention

I think it's for new purchases, kind of like an additional stamp duty. I don't think people who already own 2nd homes worth over $1 million would have to pay it on their existing properties.

No it applies realtors are complaining that taxing the existing homes is going to drive away new sales. Not only that the law is very ambiguous local homeowners own multiple rental houses that are investment properties and will be swept up in this tax. While Taylor can clearly afford the tax some of these people can't because all their money is tied up in their investments.

There are probably ways to get around the law, place the home in a family members name, create a holding company and place the house under it and rent it back to you.