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If you are paying property tax in LA based on a 15m valuation, that 200k income will struggle to cover the annual property tax bill let alone any maintenance or anything else.

The property tax is calculated based on the last transaction price of the home, so despite it being estimated at $15m today, the owner would be paying tax on a much lower value (assuming they purchased it many years ago).

The rule of thumb for upkeep of houses, airplanes, and cars is about 1% annually.

Ill trade 5M cash and 200k income for that any day of the week.

The first thing I'd do is sell.

>>The first thing I'd do is sell

Me too. And it looks like that’s what the heirs are doing too.

But for David Lynch, I can see why he might want to live amongst the people involved in financing, making, and distributing movies. Similar to how founders move to the expensive Bay area to be near VCs, talent, etc.