The value of Rishi Sunak’s Californian penthouse rises by £125,000 to £6.4 million within a year

It has been announced that the value of Rishi Sunak’s luxury penthouse in Santa Monica has risen to £6.4 million.

New documents from the Los Angeles County property valuer show the prime minister’s beach house has gone up in value by more than £125,000 in a year. And it has emerged that he and his wife Akshata Murty’s US property tax bill last year was eight times higher than the council tax they pay on three UK homes.

Mr Sunak and his wife faced a whopping $93,000 in property taxes – over £73,500 – in the year to June 2024. And the new tax year starts on Monday – meaning their bill will rise even further due to the new assessment.

Over the past two years, they paid more than £142,000 in US property taxes, documents show, while also paying almost £9,000 in council tax on two houses in London and a £1.5 million mansion in Yorkshire.

Mr Sunak has repeatedly dismissed questions about whether he plans to fly to California if the Tories suffer a general election defeat on Thursday, with former cabinet minister Zac Goldsmith previously suggesting the Prime Minister would “disappear to California”.

But the prime minister said that was “simply not true”. Asked by reporters if he was willing to stay in the UK, he replied: “Of course I am. Of course, and this is my home. I mean, my football team (Southampton) has just been promoted back to the Premiership and I hope to see them in the Premier League for many years to come.”

Calculations based on tax brackets suggest Mr Sunak and Ms Murty will have paid an estimated £8,913.53 in council tax to Hambleton District Council and the Royal Borough of Kensington and Chelsea in 2023/24. Their wealth is worth £651 million, making them the 245 richest people according to the Sunday Times list of Britain’s richest people. The couple’s California home is in a neighbourhood designed so residents can enjoy a “stunning sunset over the Pacific” every evening. The Mirror has contacted Mr Sunak’s team for comment.