Prince Harry and Meghan Markle have always been in the spotlight, not only for their philanthropic efforts and media endeavors but also for their lavish lifestyle in Montecito, California.
The couple’s stunning mansion, nestled in the exclusive neighborhood of Montecito, recently incurred an unexpected tax bill hike, adding to their financial responsibilities.
The luxurious home, which cost the Sussexes $14.5 million (£11 million) when they purchased it in 2020, spans a vast 18,000 square feet and includes an array of opulent features.
The sprawling property sits on five acres of land and boasts nine bedrooms, 16 bathrooms, a swimming pool, a tennis court, extensive gardens, a chicken coop, a five-car garage, a guesthouse, a spa, a wine cellar, a gym, a library, and even a tea house.
The tax bill for this grand estate has gradually increased since the couple moved in.
In 2023, their tax liability for the property reached an eye-watering $146,600 (£112,000), which was paid in two installments.
This marks a significant increase from 2022, where they paid nearly $144,000 (£110,000), and from 2021, when the bill was around $141,000 (£108,000).
The continued rise in property taxes is not uncommon, especially in areas like Montecito, where property values remain high, and luxurious estates like Harry and Meghan’s are subject to fluctuating assessments.
The increase in taxes could also be attributed to inflation and changes in property tax rates in California.
For a couple that has taken major financial steps since stepping away from the British Royal Family, this additional tax burden comes at a time when they are heavily invested in various ventures to secure their financial independence.
Their multi-million-dollar deals with Netflix and Spotify, among other media partnerships, have been instrumental in funding their lifestyle and charitable endeavors.
However, rising costs such as the tax bill on their Montecito mansion are a reminder of the significant financial responsibilities that come with their chosen lifestyle.
The couple purchased this estate while they were still living in one of Tyler Perry’s luxurious homes.
Their stay at Perry’s property marked the early days of their transition from life in the UK to their new home in North America.
They had spent several months in Canada after stepping back from royal duties and leaving Frogmore Cottage behind, but their search for a permanent residence brought them to Montecito, where they found their current estate.
The Montecito mansion has become their family home, a place where they are raising their two children, Archie and Lilibet, away from the prying eyes of the British media.
The estate provides them with privacy, security, and the space to live a life relatively removed from the royal spotlight—at least compared to their life in the UK.
Despite the luxury of their current home and the tax hike they face, Prince Harry and Meghan Markle do not appear to be considering a move back to the UK anytime soon.
According to insiders, while Prince Harry is reportedly working on mending his strained relationships with the Royal Family—specifically with his father, King Charles III, and his brother, Prince William—there is no indication that the couple intends to leave California behind.
In fact, sources close to the couple suggest that while Harry may be attempting to reconcile with his family, the pair are keen on maintaining their independent life in the United States.
This sentiment has been echoed in reports that Prince Harry is turning to old pals and former palace aides to aid in his efforts to mend fences across the pond.
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There are even rumors circulating that Prince Harry is seeking a “partial return to royal life,” which would involve some involvement in royal duties while maintaining his and Meghan’s independent life in the U.S.
However, this partial return would not signal a complete abandonment of their Montecito mansion and their established life in California.
The Sussexes’ Montecito estate represents more than just a home; it is a symbol of their new life, their pursuit of financial independence, and their desire to balance privacy with public duties.
The increasing tax burden, while steep, is likely manageable for the couple given their various income streams and high-profile deals.
However, it also underscores the ongoing financial obligations that come with maintaining such an expansive property.
For now, Prince Harry and Meghan Markle seem to be navigating the challenges that come with their luxurious lifestyle in Montecito, balancing their personal, financial, and public lives.
While the unexpected tax bill hike is certainly a financial hit, the couple appears committed to maintaining their California residence and continuing their work on various media projects and charitable initiatives.
As they move forward, their efforts to reconcile with the Royal Family may open new doors for the couple, but their Montecito mansion—and the responsibilities that come with it—will likely remain a central part of their future.
Whether or not further financial surprises await them, it is clear that the Sussexes are prepared to face the challenges head-on, all while remaining focused on building the life they envision for themselves and their children.
