Celebrities are attracted to Wyoming due to its lack of income tax laws, a new report from MTV News has concluded.
A regular segment on MTV news called “The Pop Factor” details how popular culture influences more than music charts and box office numbers, and for this segment, the producers took a look at the real estate market in Wyoming.
“Mega-stars like Harrison Ford, Sandra Bullock, Jeffree Star and RuPaul are snatching up real estate across Wyoming, a state known for mud, manure and manual labor,” said host Yoonj Kim.
Author and Wyoming native Justin Farrell said that the ultra-rich and famous are interested in Wyoming due to its lack of an income tax.
“If you have $100 million and you don’t have to pay income tax? That can save you so much money,” he said.
He added one of the reasons Wyoming doesn’t have a state income tax is due to its reliance on fossil fuels, and noted that the state’s political stance is generally against taxes.
Reality television star and California real estate agent Josh Flagg said while he doesn’t have any listings in Wyoming, he’s never surprised when a client calls to let him know they are moving to the state.
Flagg noted that while Jackson has always been a popular destination for the rich and famous, it has become even more so in recent years with word of celebrities such as the Kardashian family, Bullock and Ford having homes there.
Jackson has the state’s highest income per capita and its median price for a house is $2.6 million. As a state, Wyoming has the most billionaires per capita of any location in the world.
Rapper Kanye West owns multiple homes in Cody. YouTuber and makeup mogul Jeffree Star owns a home in Casper.
Jackson housing activist Clare Stumpf said that the housing prices in Jackson are so high, she lived in a Subaru for five years, but finally upgraded to a van.