LeBron Investing 101: $1 Million In Property Taxes

Apparently in an effort to contribute his fair share to the Florida tax base, which includes no state income tax, LeBron James reportedly has “started the paperwork” to buy a home in Miami for $50 million.

LeBron James $50 million Miami mansion

(When new, conspicuous wealth attacks)

The Coral Gables home is south of downtown Miami and been on the market for over a year. In June 2009, the CORAL GABLES GAZETTE reported that annual property taxes alone for the home “are estimated at roughly $1 million and utilities will set you back another $150,000 annually.

That doesn’t factor in a housekeeping staff, landscaping and other steep costs associated with running such an enormous estate.

Just the kind of thing a 25-year-old bachelor who just ‘took his talents to South Beach’ would want, right? Read more…