Gates’ Property Tax Bill Tops $1M
SEATTLE (AP) _ Being the world’s richest man has its price, especially when you own one of the world’s most opulent homes.
King County mailed out property tax bills Monday, and the biggest by far went to Microsoft co-founder Bill Gates, whose home and land in suburban Medina are valued at nearly $110 million.
That translates to a property tax bill of $1,076,231.
Gates’ home and five acres on the Lake Washington waterfront nearly doubled in value last year, when Gates had to pay $615,000 in taxes based on an assessment before construction on the 48,000-square-foot house and grounds was completed.
``It’s a significant property,″ said Debra Prins of the county assessor’s office. ``It has a lot of different attributes, and it takes care and time to accurately reflect what the marketplace will show.″
The most recent assessment was made last September, and Gates did not appeal.
The house, much of which is underground, resembles a lodge with its cut stone and heavy wood beams. It boasts a 22,800-square-foot main floor, and there are seven bedrooms and 24 bathrooms.