In fact, the state of Rhode Island has proposed a tax on all non-primary residences worth over $1 million, and the ...

The “Taylor Swift tax,” among other levies, targets the rich. Will they be driven away?

Taylor Swift soon may be required to pay a hefty amount of taxes on her New England home, which is undergoing renovations, if a proposed tax act in Rhode Island goes through.

Taylor Swift's Rhode Island home is reportedly worth about $28.1 million. If the proposal passes, she would be required to pay about $135,500 in taxes annually.

If passed, Rhode Island's so-called "Taylor Swift Tax" would establish a new tax rate for non-primary residences valued at more than $1 million.

Taylor Swift's Rhode Island home is reportedly worth about $28.1 million. If the proposal passes, she would be required to pay about $135,500 in taxes annually.