King Charles will not live in Buckingham Palace after $487 million renovation

King Charles III will not live at Buckingham Palace after the completion of a $487 million refurbishment, in a break from a nearly 200-year-old tradition. Royal officials stressed that the king and Queen Camilla would continue to work out of the palace, which will remain "the ceremonial and operational center" of the monarchy. But for the rest of Charles' reign, the king and queen will remain in nearby Clarence House. "It is and will remain Monarchy HQ, the crown jewel of our national buildings," said James Chalmers, the senior royal official responsible for managing the king's financial affairs. The decision was announced Thursday during a briefing on royal finances at which the king became the first British monarch to reveal the taxes he paid to the government. The king paid $16.1 million in income and capital gains taxes in the 2024-25 financial year, up from $15.4 million the previous year. The Coldstream Guards assume position outside Buckingham Palace during the Trooping The Colour ceremonial parade on June 13, 2026 in London, England. Chris Jackson / Getty Images Built in the 1820s, Buckingham Palace has been the London home of every British monarch since Queen Victoria. With 775 rooms, the palace also provides office space for the royal bureaucracy and hosts lavish state dinners for visiting presidents and potentates. …