In large pot or Dutch oven over medium high heat, sauté ground beef, bell pepper, onions, and salt for 8-10 minutes, or until beef is no longer pink and vegetables have softened. Add garlic, chili powder, and paprika, and cook, stirring, for 1-2 minutes or until fragrant.
Add pinto beans, tomatoes, green chiles, and broth; bring to a boil, then reduce heat to simmer for 15 minutes.
Meanwhile, in medium saucepan over medium heat, melt butter. Stir in flour until combined. Whisk in milk. Bring to a boil, stirring constantly until mixture is smooth and thickened. Remove from heat.
When ready to serve, stir corn into chili. Add white sauce, stirring to combine. Slowly add cheese to chili until melted. Stir in cilantro. Serve immediately with lime wedges and tortilla chips, if desired.
Nutrition information is based on one serving (1 and 1/2 cups) and does not include tortilla chips.
For vegetarian chili, omit the meat and add an extra can of beans. Use vegetable broth instead of beef or chicken broth.
If desired, prepare the chili as directed and keep it warm in a crockpot to serve to guests.
For more spice: Add a 1/4 teaspoon (or more) of red pepper flakes. Or add a smoky element by substituting smoked paprika or chipotle chili powder for the paprika.