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10. 16 Empty Mansions Out of 66
Many people don’t know this, but billionaires often abandon mansions and elegant homes for years at a time. However, leaving a property empty for years, especially the large mansions and estates of this type, is really advantageous to the billionaires in a variety of ways. Tax benefits are given to a property that has sat vacant for several years if it is left unoccupied by its owner. The government of the United Kingdom offers a tax cut to homeowners who renovate their properties after they have been empty or abandoned for more than two years. The new construction costs will be exempt from VAT if the building is later demolished and rebuilt.
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