Even for Hollywood royalty, the taxman cometh — and he’s not playing around.
Even for Hollywood royalty like Jennifer Lopez and Ben Affleck, the taxman cometh — and he’s not playing around.
While their glitzy split is making headlines, what’s flying under the radar is the jaw-dropping tax bill that comes with their soon-to-be former Beverly Hills mansion.
The sprawling 38,000-square-foot estate, now listed on Zillow for a staggering $68 million, will cost its new owner more than $1,000 a day just to keep the lights on — and the government from knocking at their front gate.
Last year alone, the tax bill on the couple’s luxurious home was more than $400,000, Zillow estimated.
And here’s the kicker — California, often vilified for its high taxes, actually has a lower property tax rate than many other states. According to Bankrate, if the mansion were located in an exclusive East Coast enclave like Greenwich, Conn., the tax bill would be closer to a mind-boggling $800,000 annually.
And ponying up huge amounts to the public fund won’t be the only thing likely to make even the wealthiest homeowners wince — the property’s utility bills could be almost as onerous.
According to calculations by HomeAdvisor and the U.S. Energy and Information Administration, total estimated monthly utility costs based on the size of the home are between $5,000 and $20,000 — potentially more depending on the specific amenities and usage patterns of the mansion.
