Posted on 12/17/2020 12:23:51 AM PST by MeneMeneTekelUpharsin
The appraised value of Republican Sen. Kelly Loeffler and her husband’s Atlanta mansion, known as ‘Descante’, dropped suddenly – and mysteriously - by more than $6 million in 2016, saving the couple tens of thousands of dollars in taxes every year since, according to the Daily Beast.
Loeffler and her New York Stock Exchange CEO husband, Jeffrey Sprecher, bought the 15,000-square-foot mansion for $10.5 million in 2009, making it the most expensive private home purchase in the city’s history at the time.
The property held its value steady for the next seven years, based on appraisals conducted by the Fulton County government for tax purposes, before dramatically plummeting 60 percent to just $4.15 million in 2016, without explanation.
SNIP
Across the last four years, the value of the four-acre estate, which was built in 1997, has risen to roughly $5 million. However, the couple are still paying around $80,000 less a year than they were when they first purchased the property. In 2018, the home was valued at $5.5 million, and the couple paid $115,000 in property taxes for that year; in 2020, the home was valued at a lesser $5 million, with an annual tax bill of $112,000, according to the Daily Beast.
Even more bizarrely, the 2016 devaluation of Loeffler and Sprecher’s home came after the couple made extensive renovations to the property in the year previous. In 2015, the couple reportedly spent nearly $90,000 to renovate the home’s kitchen, $150,000 building a new greenhouse, and $125,000 on improvements to the estate’s gardens.
(Excerpt) Read more at dailymail.co.uk ...
I didn’t say I wasn’t interested in the government. I’m just not interested in affiliating myself with either party, since most officials in each regard us as something stinky that they wiped off their shoe.
But you just go ahead and keep on supporting people like Roger Wicker, who apparently couldn’t be bothered to conduct a hearing for a Trump FCC nominee that indicated a willingness to stand up to Big Tech (also why I left the GOP).
I will vote for whom I think best, which in most cases, will still be a GOP candidate.
In california all of the home values in the central valley have been skyrocketing!
Just a coincidence that this is being reported just before an election, right?
“Residential properties are appraised every year in Georgia for tax purposes.”
Holy cow. That’s physically impossible unless Georgia is using Dominion calculators.
Seriously, NC re-assesses every eight years, I’ve seen other states at four years. Unless the state does an across-the-board percentage bump up or down, trying to individually re-value every property, every year is just impossible.
And these are probably not real appraisals. More than likely, they’re reassessments. There’s a difference. An appraisal and the assessed value can vary widely in number. We owned a SC lot that we bought for $185,000. The assessed value was $13,000. It’s the millage rate that gets you.
I used to work with a guy in a previous career who at one time was an upper guy in the postal service. His job involved building new post offices from what I remember.
He and his wife would have almost every activity projected to the penny and rarely deviated from the plan.
$115,000 in property taxes?????
Just a reminder that you don’t own your home. You’re renting from the real ‘owner’.
I don’t see the benefit. If the homes around it went downhill, of course their investment lost money.
They likely overpaid for the home they really wanted because they could afford to do so. Realistic pricing catches up, in time.
I don’t see an issue here.
Fugghedaboutit!
The fastest way to riches in the US now is to be the husband of a female US Senator, with husband of a Congresswoman right behind.
I’m not familiar with the United States granting “exit visas”.
Could you enlighten us?
“That’s physically impossible unless Georgia is using Dominion calculators.”
Some parts of Arizona adjust your property value every year based on trends in the market. Just a computer formula. If you disagree, you have to go in person and argue why they are wrong.
Metaphor, not a thing.
It means I’m basically out. It doesn’t make sense here any more.
I can live better is South America and from the perspective of sailing, I can reach San Diego almost as readily as I can Houston or Florida.
The CIA and FBI need to go completely away. They have destroyed this country.
Too bad she didn't win.
An honest public servant can't become rich in politics. He can only attain greatness and satisfaction by service. ---Harry Truman.
No need to walk, I see free train rides in our future.
Do you really think she does her own taxes and worries about such things? I don't really believe Clinton called up the IRS and asked that his enemies be audited,(Tho he might have) it wasn't necessary he had useful idiots that did it for him.
You remember Plumber Joe, his local financial history was released that afternoon, I doubt Obama had anything to do with that, but he had a useful idiot somewhere voluntarily do it for him. Our enemy is not one man, it is a culture largely put into place by JFK when he instituted federal unions into the government workplace. Union thugs are the same the world over. Always looking out for their self interest.
The picture a poll watcher posted yesterday was not the least bit encouraging. Still unable to actually see anything, no cell phones no pictures no videos allowed.
Unfortunately that usually turns out to be the lesser of two evils. Sad isn't it?
“Do you really think she does her own taxes and worries about such things?”
Of course I don’t. When that subject came up I stood up for her. We don’t make our investments and we don’t do our taxes, and we aren’t even close to as wealthy as she is. I totally believed her then. It was credible that a move would have been made automatically that happened to benefit her.
When other other situations begin to occur that are convenient windfalls, though, it’s not crazy to look at the big picture and ask some questions.
Pretty sure they did NOT get appraised every year. Instead, they got appraised in 2016 when they did the improvements, and that’s when they realized the home’s value had plummeted.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.