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http://launch.yahoo.com/read/news.asp?contentID=212986
Michael Jackson is reportedly selling his Neverland Ranch in California's Santa Ynez Valley for $22.5 million dollars, though real estate sources believe the property's actual value is much less, placing it at $13.5 million.
The 2,600-acre estate includes its own lake, railway, playground, amusement rides, guardhouse, recreational facilities, and barns; and costs about $3 million a year just to maintain.
The 44-year-old "King Of Pop" recently lost a lawsuit for backing out of two millennium concerts and owes the promoter more than $5 million. He is also facing a tax hike on the "Neverland" property from Santa Barbara County officials, for allegedly violating zoning regulations and claiming false tax breaks.
Meanwhile, on Wednesday (April 9), Jackson canceled an appearance on Sunday, April 13, in Vienna, Austria, where he was scheduled to play a concert and also introduce a children's charity project in Ischlg (ISH-gul), a ski resort in western Austria. The event organizer said Jackson canceled the show due to security risks related to world political events.
Michael Jackson is reportedly selling his Neverland Ranch in California's Santa Ynez Valley for $22.5 million dollars, though real estate sources believe the property's actual value is much less, placing it at $13.5 million.
The 2,600-acre estate includes its own lake, railway, playground, amusement rides, guardhouse, recreational facilities, and barns; and costs about $3 million a year just to maintain.
The 44-year-old "King Of Pop" recently lost a lawsuit for backing out of two millennium concerts and owes the promoter more than $5 million. He is also facing a tax hike on the "Neverland" property from Santa Barbara County officials, for allegedly violating zoning regulations and claiming false tax breaks.
Meanwhile, on Wednesday (April 9), Jackson canceled an appearance on Sunday, April 13, in Vienna, Austria, where he was scheduled to play a concert and also introduce a children's charity project in Ischlg (ISH-gul), a ski resort in western Austria. The event organizer said Jackson canceled the show due to security risks related to world political events.