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 just wish someone showed as much interest in Dianne or Nanzy's hubbies fortunes, they don't.
Having said that I thought she was a mistake but I am sure they chose her because she could finance her own campaign. Politics is a cash business unfortunately.
Sad, but true, especially when you only have a choice between D and R in a race.
Maryland reassesses every 3 years.
>> The ones whose children are getting cushy jobs in Washington and elsewhere with the Federal government
Careful now.
Remind us all how many Trump relatives wouldn’t be on the payroll if it wasn’t for the Presidency...
Many years before President Trump, a lot of people agreed with you but not only that, a lot of those folks used to say that a President ought to distance himself from his prior commercial interests while in office, that might conflict with the constitutional duties of the White House.
I know President Trump did distance himself from his businesses - but it’s still in the family.
This Presidency has been renting office space in the Trump portfolio, on the advice of a Trump family member, and approved by the family’s patriarch. I’m sure it is all above board but it’s an open goal for the President’s critics to kick at: “You would all have gone completely postal if Obama or Clinton had done that but you can’t bring yourselves to even criticize Trump for doing it.”
NC counties are required by law to do a revaluation at least once every 8 years. Here in Mecklenburg County, they’ve done it more often...recently, I think. I also remember them giving notice they were going to do one, but then cancelled it because home values hadn’t changed, and the county didn’t want to spend the money for little or no return.
There’s probably a thousand different ways counties calculate property taxes. It’s a huge racket.
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.