Chip and Joanna Gaines, the renovation gurus known for their amazing transformations of homes in Waco, TX, recently faced a challenge of a different sort: the tax man.
According to a report from the Houston Chronicle, the “Fixer Upper” stars were sued over taxes owed on their regally renovated castle, Cottonland Castle, a historic home in the town the Gaineses have helped to revive.
The lawsuit filed by the city of Waco and the Waco school district sought some $40,000 in back taxes from the property, the news report said. “The city of Waco is owed $18,359.65 and Waco ISD is owed $25,012.58, all for taxes that went unpaid in 2023.”
Paid in full
But after news of the lawsuit surfaced, the couple and their corporate entity Magnolia quickly resolved the tax issue.
According to KWTX, “Magnolia General Counsel Stephen Lewis said Wednesday afternoon that Magnolia officials learned of the tax delinquency from a KWTX news article, and a Magnolia representative paid the delinquent tax bill in full.”
The bill was paid by credit card, including a service fee, KWTX said.
(Photo: Lisa Petrol)
(Photo: Lisa Petrol)
(Photo: Lisa Petrol)
(Photo: Lisa Petrol)
Last year, the duo had attempted to sell the property they had taken on as a renovation in 2019, which they purchased for about $400,000.
At the time the Gaineses purchased the place, it was over 6,000 square feet of space with four bedrooms and three baths on less than an acre.
Three-year renovation
The three-year renovation of the local landmark got the Chip and Joanna touch as part of a six-part series, “ Fixer Upper: The Castle.”
While construction on the fortress began in 1890, it was completed in the early 1900s. But over the past five years, it’s received the royal treatment from the ace renovators. Prior to the Gaineses’ work, the castle had apparently stood vacant for 20 years and was in dire need of a face-lift.
(Magnolia)
Headed to auction, or was it?
But once the makeover was finished in 2023, rather than keep it, the pair had initially opted to place the palatial property up for auction with a $2.9 million price tag.
According to the KWTX report, the castle was appraised at $274,500 in 2014 before renovations. This year, the appraised value jumped to $1.7 million.
Whatever it’s worth, the couple ultimately decided to keep the castle and have even offered tours of the place for $50 a pop.
