King Charles III Reportedly Won’t Move Into Buckingham Palace Even After Renovations… And A Rare Tax Reveal Has Left Fans Stunned
King Charles Won’t Live in Buckingham Palace After Renovations Are Complete
The palace also shared King Charles’ tax bill in a true royal first
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Queen Camilla and King Charles on the balcony of Buckingham Palace on June 13, 2026.Credit :
Max Mumby/Indigo/Getty
King Charles and Queen Camilla won’t move into Buckingham Palace after a multi-million dollar, decade-long renovation is complete, the palace has confirmed.
The update came on June 25 with the release of the annual Sovereign Grant Report, which outlines how taxpayer funding supports the royal family’s official duties and the upkeep of the occupied royal palaces during the 2025–2026 financial year.
Among the report’s notable revelations was confirmation that the King, 77, and Queen, 78, will not take up residence at Buckingham Palace after the Buckingham Palace Reservicing Programme concludes in 2027.
“It will be a buzzing hive of royal activity in every other way,” a palace spokesperson said.
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“His Majesty retains huge affection for Buckingham Palace and a deep respect for its role in royal and public life,” the palace said of the King’s feelings toward the royal family’s best-known London residence. “It will remain a working home but we are seeking to widen public access precisely to maximise the national benefit of a publicly-funded building.”
A statement elaborated that King Charles and Queen Camilla’s decision not to make Buckingham Palace a personal home reflects their wishes that the iconic royal residence “remains the ceremonial center of Royal life, the primary workplace of the Royal Household and a national heritage asset with increased opportunities for public access.”
It was previously determined in March that the 2026-27 Sovereign Grant would be set at $182 million to deliver funding for the last year of the Buckingham Palace Reserving Program, in a sum that will be reduced in the future.
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While the King frequently hosts audiences at Buckingham Palace and the royal family recently gathered there for Trooping the Colour, the activity happens amid a major ten-year renovation of the palace that the royal family’s website describes as a total overhaul.
In April 2017, a $487 million phased program began to replace the palace’s boilers, electrical panels, cabling systems, water tanks and pipework, some of which have not been touched since the 1950s. As part of the program, other changes are also being made to improve efficiency and accessibility at the London landmark.
The ongoing Buckingham Palace Reservicing Program is why the King has exclusively used Windsor Castle to host state visits in recent years and a 2016 report said that it would cost $487 million to get the work done. That summary said the costs would be spread over 10 years and the palace would remain fully operational during that time, occupied by Queen Elizabeth, royal family members and most Royal Household employees.
While King Charles and Queen Camilla have opted not to follow in his late mother’s footsteps and are expected to continue using Clarence House as their home base in London, the Buckingham Palace Reservicing Program is due to keep the palace, which draws over 15 million tourists a year, up to standard for the next 50 years.
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In a true royal first, Buckingham Palace also published the King’s tax bill for the first time, revealing that he has paid over $39 million in taxes since his accession to the throne in September 2022.
The monarch paid about $15.4 million in taxes for the 2023-2024 year and about $17 million in taxes for the 2024-2025 year, the palace said, with the figures released as part of the Royal Household’s “commitment to transparency.”
