American Baseball League player, Derek Jeter who plays shortstop for the New York Yankees has changed the landscape, if not the skyline of Tampa, Florida. A year after they started building, the biggest home in Hillsborough County is completed.
Jeter has long planned this project, buying adjacent lands in Davis Islands since 2005. The mansion, built in an English Manor style and situated near the water, cost $7.7 million.
With seven bedrooms and nine baths, the 30,000 square feet domicile sits on three lots in the Bahama Circle. It has two 3-car garages, a swimming pool that overlooks the ocean, a billiards room and a memorabilia room. Of course, it also comes with a small pier. All this to be protected from the public eye with a 6-foot privacy fence.
The Yankee reportedly made $21 million last year, so the $7.7 million mega mansion should be covered. Jeter also has another smaller house in Avila. Smaller because it is only 4,000 square foot and only cost him a mere $1 million. It is situated in Avila Golf and Country Club, north Tampa.
Aside from his homes in Florida, Jeter’s other assets include homes in Marlboro, New Jersey, Greenwood Lake, New York and a Trump World Tower apartment in Manhattan – the latter being currently in the market.
Jeter has claimed Florida residency, hence his exemption from state income tax. Although he works in New York, his residency and majority of assets are in Florida. Since 1994, Jeter has maintained a Tampa residence when he first started out with the Yankees.
Back in 2007, Jeter was hounded by New York tax officials. The issue was his failure to pay taxes between the years 2001 to 2003. His apartment purchase in the Manhattan Trump World Tower and an $8,000 monthly rental in Long Island brought him under tax scrutiny.
This new mega mansion in Tampa will help prove his intent and slide the scale in favor of Florida domicile. Assuming Jeter has filed a declaration of Domicile in Florida, his homestead will be under the vast umbrella of the asset protection laws of Florida.
Read all about Florida Homestead laws and protection in Chapter 3 of the Florida Domicile Handbook.