Ben Carson’s West Palm Beach Mansion

Dr. “Gentle” Ben Carson (co-frontrunner of the GOP Primary) and his wife Lacena, live in the Ibis real estate community, a gated golf and country club in West Palm Beach. His large 5 bedroom home of 7677 sq. ft. that he wisely and prudently purchased in 2013 for $775,000 was bought lower than market value even then. Quite the move up from his humble Detroit beginnings!

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The market had just started to rise when he purchased. The price he paid was way below market value at the time. The tax records (which are typically 15% lower than market value) had a base of $854,856 in 2013. Interestingly enough, the previous owner was John J Rooney who was the original owner in 1995 for $1,375,000.  Mr. Rooney is the Chairman of the Board of the Palm Beach Kennel Club (Dog Racing Track). Yup, the same family that owns the Pittsburgh Steelers and has Republican family members in the House of Representatives.

These never before seen aerials and photos highlight the home’s Mediterranean design. You can see that Dr. Carson is renovating the roof. The estate is complete with a luxurious pool and spa, fabulous golf and lake views, a theatre room, marble flooring that was already upgraded when he purchased it. As a bonus, its walking distance to the clubhouse, spa, and dining facilities.

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Ibis is a hotbead for politicians. Besides Carson and Rooney, other people in the world of politics include.. Jerri Mouio, the Mayor of West Palm Beach, Ric Bradshaw, the Sheriff of Palm Beach County, and Fox Business Network reporter, Lou Dobbs.

Ibis is a mandatory membership community. There are 3 Jack Nicklaus golf courses, tennis courts, fitness club, dining facilities, and round the clock social activities. Residents must join one of 4 memberships. The most expensive is the Premier Golf, which is an $80,000 member contribution with $14,198 in operating dues.  The least expensive package is Social Sports, which is a $40,000 membership contribution and $7,758 a year in operating dues. All applicable dues are subject to the 6% Florida state tax. For year round residents, not only is the daily sunshine a draw, but Florida’s no income tax law makes residing here paradise. The Carsons will pay $23,906 in property tax for 2015.

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The Palm Beach Tax Records estimates that Carson’s home today is worth in excess of $1 million ($1,024,447). I believe the true market value would be closer to $1,250,000. One interesting note was that the home was available partially furnished when the Carsons bought it. Perhaps some of the furniture was purchased with cash and they broke out the numbers. Sometimes Buyers and Sellers do that so the recording number is lower with hopes that their tax base is lower. Whatever the case, Carson showed he can negotiate a sweet deal. Not as good as The Donald’s purchase of Mar-a-Lago but more on that next…

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