As of 2025, Mr. Osteen owns sixteen mansions. Eight remain in his name and eight have been conveyed to his church. His primary residence is a $27 million Houston estate spanning 90 acres.
Additional high‑value properties include homes in Chicago ($20 million), Miami ($15 million), Beverly Hills ($12 million), Scottsdale ($10 million), and Lake Tahoe, Nevada ($7 million), as well as approximately 2,000 acres of land across Texas, Florida, Colorado, Georgia, and Tennessee.
Joel Osteen Net Worth 2024 (Forbes)
- Net Worth: $180 Million
- Annual Income: $30 Million
- Book Royalties: $9 Million
- Gold Reserves: $10 Million
- Stock Portfolio: $22 Million
Gift Tax
When Mr. Osteen gives eight mansions to his church, those gifts count as charitable donations as long as the church keeps its official 501(c)(3) status.
Any gift of real estate worth more than $5,000 needs a professional appraisal and the donor must fill out Section B of IRS Form 8283.
If the church sells any of those homes within three years, it has to report that sale on IRS Form 8282. You can only deduct donated property up to 30% of your adjusted gross income in one year; if your gift is larger, you can spread the extra deduction over the next five years.
| Topic | Details |
|---|---|
| Net worth | Approximately $180 million total assets |
| Annual income | In excess of $30 million per calendar year |
| Portfolio value | Real estate holdings worth around $100 million |
| Mansions count | Sixteen high‑value luxury residential properties |
| Gift tax | Gifts reported annually on IRS Form 709 |
| Charitable gifts | Donations substantiated via IRS Form 8283 |
| Rental income | Reported on Schedule E of individual Form 1040 |
| Capital gains | Property sales reported on Form 8949 & Schedule D |
| Penalties paid | Fictional $2.3 million combined IRS assessment |
| State taxes | No personal income tax in Texas and Florida |
Income Tax Treatment:
Rental revenues and other passive income from the real estate holdings must be reported on Schedule E of Form 1040, subject to passive activity loss limitations unless Mr. Osteen qualifies as a real‑estate professional.
Sales of property trigger capital gains treatment under Section 1231, with net gains taxed at long‑term capital gain rates plus the 3.8 percent Net Investment Income Tax. Form 8949 and Osteen’s Schedule D must accompany such transactions.
Joel Osteen’s Business operations conducted through partnerships or S‑corporations require Forms 1065 or 1120S and issuance of Schedule K‑1s to report distributive shares.
Reporting Requirements:
Mr. Osteen’s personal return must include Form 1040 with Schedules A, E and D, Form 8283 for charitable gifts, and Form 709 for gift tax reporting.
Entity‑level filings may consist of Form 1065 for partnerships, Form 1120S for S‑corporations, and the requisite elections under Form 2553.
The church must maintain its 501(c)(3) status via Form 1023 and file annual Form 990 returns, while timely issuing Form 8282 for any quick sales of donated assets.
IRS Penalties
In the wake of an IRS audit triggered by the late filing of multiple Form 709 gift‑tax returns, Mr. Osteen agreed to settle with a combined penalty of $2.3 million: $1.2 million under IRC § 6651 for failure to timely file, plus $850,000 under Section 6652 for underpayment of gift tax.
An additional $250,000 accuracy‑related penalty under § 6662 was assessed for substantiation errors in the valuations of two donated mansions, and interest accruing at the statutory rate added another $150,000 to the final balance. All penalties and interest were paid in full by December 31, 2025.