Official Portnoy Take On New Rhode Island ‘Taylor Swift Tax’

Dave "Swiftie" Portnoy is once again defending Taylor Swift, though his reasons for doing so this time are completely self-serving.

In a recent interview on the Fox Business show, Varney & Co, Portnoy appeared to share his opinions on Rhode Island's proposed new tax on luxury homes valued over $1 million.

As a man who owns plenty of high end homes himself, Portnoy was not onboard with the new tax plan by the Ocean State and wasn't afraid to say why.

Right off the bat in his interview Portnoy gave the visible thumbs down to Varney's mention of the new tax quickly adding "We don't like that tax Stuart" when asked how he feels about it.

View this post on Instagram

A post shared by Varney & Company (@varneyco)

Though Portnoy points out that he doesn't in fact own any homes in Rhode Island, meaning he would be completely unaffected if this new tax passes, he does own houses nearby and that's where he gets worried.

READ MORE: Dave Portnoy Buys Luxury Nantucket Home For Record-Breaking Price

Portnoy reasons with Varney that he doesn't want the states he does own property in, like Massachusetts and New York, getting any ideas from the proposed "Taylor Swift Tax."

If this new tax passes it would mean additional taxes on any state property valued at over $1 million that isn't the owner's primary residence. For a $17 million home like Swift's, it's an added $136,000 in tax per year.

Portnoy, owning homes at nearly three times that amount, could get some serious tax bills if Massachusetts or New York try the same tax.

READ MORE: Nantucket Harbor Almost Swallows Up 'Captain' Dave Portnoy

He did have one condition under which he might be okay with it though. Portnoy told Varney,

So far the Rhode Island House of Representatives has passed the budget with the new "Taylor Swift Tax" in it, though the bill still needs State Senate approval before becoming a law.

The proposed tax would take affect in July 2026 if passed.