These Celebrity Mega-Mansions Are Now Worthless

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Jennifer Lopez’s Mansion – Los Angeles, California

On the Market Since: 2015
Total Area: 17,129 square feet
Initial Value: $17 million*

A dressing room for Hollywood events is at Jennifer Lopez’s California home. In 2015, the artist put his Hidden Hills estate up for sale for a cool $17 million. It has everything a musician could need: nine bedrooms, a dance studio, a theater, a gym, and a big recording studio. Although the estate featured many luxurious features, Lopez could not sell it. She was obliged to list the house at a more acceptable $12.5 million price after a $4.5 million price cut. According to sources, Lopez also has residences in New York, Miami, and Bel Air, but she intends to maintain them all.

As Apple’s headquarters is located in California, it’s unlikely that hefty property taxes were a factor in the house’s lack of interest in the market. California has the nation’s lowest property tax rate compared to Ohio. On a median-priced home in the state ($385,000), the property tax bill is around $3,104.

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