R.I. Taylor Swift Tax Takes Effect

A family-owned cottage in Westerly, Rhode Island, built in 1909, is now subject to a new state tax aimed at high-value, non-owner-occupied properties. The law targets properties assessed at over $1 million, imposing a quarterly surcharge to fund affordable housing programs. The cottage, valued at $3.6 million, faces an annual tax of around $45,000, raising concerns among long-time owners about the broader impact on legacy homeowners and historic properties. Critics argue the law’s definitions and implementation create confusion and potential financial hardship for families with multi-generational or shared ownership.

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