Top-dollar properties in the Greater New York area also lead to big pay days for local tax collectors.
Billionaire Ira Rennert, whose sprawling Sagaponack estate has ruffled the features of environmental groups, reportedly paid $649,281 in property tax last year, according to PropertyShark data cited by CNBC — making his bill the heftiest for a single residence in the tri-state region of New York, New Jersey and Connecticut. Hot on his heels is Bradley Jack, ex-managing director of Lehman Brothers, whose 10-acre waterfront estate in Fairfield, Conn. yielded $579,184 in taxes last year. And the home is now on the market, listed at $62 million.
Charles Wang, majority owner of the New York Islanders hockey team, comes in third on the list with $564,666 on his Nassau County estate, which is valued at more than $36 million.
High though they may appear, the tri-state area’s property taxes in fact pale compared to their counterparts in California. Heiress Petra Ecclestone, for one, has a property tax bill north of $1 million on her 50,000-square-foot Los Angeles mansion, while Oracle Chief Larry Ellison’s Woodside, Calif. sigs came in with a tax bill of just under $800,000. [CNBC] — Julie Strickland