Property taxes are extremely high here in California. Jay-Z and Beyonce even pay high taxes for their Bel Air mansion. According to the LA Times, the married couple owed $1.05 million per year in property taxes for their home.
Their home is 30,000 square feet, with 8 bedrooms, eleven bathrooms and even has bulletproof doors and windows. Their garage can even fit 15 cars inside.
Paying property tax is a lot higher for someone who just bought a home. “In Los Angeles County—since Proposition 13 passed in 1978—the base value of a property is assessed at the date of purchase with a maximum taxable value increase of 2% per year,” Latham says.
Their just bought the home in 2017, which is why their taxes are very high.