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.
(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…