Bangkok: The Thai King and other royal family members are exempted from paying property and building taxes, according to a report by Thailand-based Royal Gazette.
King Maha Vajiralongkorn is one of the richest monarchs in the world with an estimated $30 billion in personal assets, the majority of which is tied-up in real estate investment.
The property tax exemption applies to real estate used by the royal family, state agencies or members of the king’s office staff.
The Thai king owns Crown Property Bureau and holds property titles to over 6,500 hectares of land and 40,000 rental contracts across the country, according Business Insider.
The Thai King’s property in Bangkok alone is valued at $33 billion.
Crown Property also has rental contracts with the iconic Siam Paragon shopping mall, Siam Discovery and Siam center all of which occupy land owned by the Thai king.