Swift famously owns a $28 million vacation home in Westerly – which means she’ll be writing the state a check for another $136,000.
State leaders maintain the money is being dedicated to a good cause: future redemptions of the low-income housing tax credit, which is designed to produce more housing. Shekarchi said it’s unclear exactly how much additional revenue the tax will generate.
A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State.
There are far more important topics in the proposed state budget — which is likely to get a vote next week. But if you’re a total celebrity voyeur like me, here’s a look at what the new tax will mean for some of Rhode Island’s most famous part-time residents.
🏠 Comedian Jay Leno owns most of the Seafair mansion in Newport, which is broken out into condos. The properties have a total assessed value of $16.3 million, which could result in Leno paying an additional $76,000 (it would be less if each condo has the first $1 million of value knocked off).
🏠 Oracle co-founder Larry Ellison owns several properties in Newport, including 580 Bellevue Ave. The mansion has an assessed value of $31 million, so he could pay nearly $149,000 in new taxes on that property alone.
🏠 Stephen A. Schwarzman, the billionaire chairman and CEO of the Blackstone Group, owns the Miramar mansion on Bellevue Avenue in Newport. The entire estate has an assessed value of more than $33 million, which means the new tax could generate $161,000 for the state.
🏠 Colin Cowherd, one of the most famous sports talk-show hosts in the country, owns an $8.3 million home in Westerly. Under the proposal, he’ll pay an extra $37,000.
🏠 Judge Judy owns a $13.1 million home in Newport, which means she might owe an additional $61,000 to the state.
🏠 Alexis DeJoria, a famous drag racer whose father is a billionaire, owns Ocean Lawn in Newport, which has an assessed value of $19.4 million. She could end up paying an additional $92,000.
