Royal refurb: Palace repairs helped push taxpayer cost of British monarchy above $60 million

LONDON – Buckingham Palace says the monarchy cost British taxpayers 35.7 million pounds ($60.8 million) last year — 56 pence (just under $1) for everyone in the country.

More than a third of the money was spent on repairs and maintenance to aging palaces.

Some 3.4 million pounds was spent in the year to March 31 refurbishing part of London’s Kensington Palace into a home for Prince William, his wife Catherine and their toddler son Prince George.

The work included removing asbestos, installing new heating and “simple redecoration.” William and Kate paid for carpets, curtains and furnishings themselves.

As the accounts were published Thursday, Keeper of the Privy Purse Alan Reid said the royal household was keen to “maximize the value for money” of the monarchy.