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Country’s second-most expensive mansion will give major tax windfall to Hillsboro Beach
![An aerial rendering of the massive La Palais Royal estate at 935 Hillsboro Mile](https://static.therealdeal.com/wp-content/uploads/2015/11/ZphixBNqYiQhVzjb85ZrTKcDHJ_YYsvMOVIRHvnuu-ky2NwOZrSG1pby7TAHNxwjhicNMSkXPzzcrk_Xjc82-I-e1447266314375.jpg)
Middlesex Corp. founder Robert Pereira is looking to cash in big with the sale of his $159 million home in Hillsboro Beach, known as Le Palais Royale.
But he won’t be the only party profiting from the home in the meantime: Hillsboro Beach is reportedly set to gain a major windfall from property taxes when Le Palais Royale is completed in January.
![935 Hillsboro Mile, Hillsboro Beach](https://static.therealdeal.com/wp-content/uploads/2016/05/Hillsboro-Beach-mansion-at-935-Hillsboro-Mile-300x181.jpg)
Exterior shot of the mansion
According to Gossip Extra, which cited information from Hillsboro Town Manager Robert Kellogg, the home is expected to generate roughly $300,000 in property taxes annually.
That bill alone will push the town’s property valuation up by 10 percent.
Coming in at 65,000 square feet, the 11-bedroom, 17-bathroom manse sits on roughly 4 acres of waterfront land that stretches between the Ocean and Intracoastal Waterway.
![The mansion's huge marble staircase](https://static.therealdeal.com/wp-content/uploads/2015/11/LobbyStairs_01-1000x563-300x169.jpg)
The mansion’s huge marble staircase
It’s jam packed with extravagances: six waterfalls, a $2 million grand marble staircase and $3 million worth of gold leaf. The home also has an underground garage with space for 30 cars, a private IMAX theater with 18 seats, go-kart track, ice-skating rink, bowling alley and nightclub.
Pereira first placed the home on the market when it was still under construction in September 2014, asking $139 million, listed by William P.D. Pierce, who then worked for Coldwell Banker.
ONE Sotheby’s International Realty founder Mayi De La Vega took over in November 2015 with a boosted listing price of $159 million, making it the country’s second-most-expensive home for sale, behind the Ziff family’s massive Manalapan estate that’s seeking $195 million. [Gossip Extra] — Sean Stewart-Muniz