King Charles will not live at Buckingham Palace after its 10-year refurbishment finishes next year, ending nearly two centuries of the central London landmark serving as the British monarch's primary residence.

The decision was announced Thursday during a briefing on royal finances at which Charles became the first British monarch to reveal the taxes he paid to the government.

Charles released his tax information for the period he has been king of Britain as part of a push for greater transparency after the scandal involving the former Prince Andrew.