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Segami

(14,923 posts)
Tue Aug 7, 2012, 04:37 PM Aug 2012

The Romneys' PROPERTY TAX Scheme/L.A. Apprasier Arrested/Assessor Steps Down

Last edited Tue Aug 7, 2012, 10:34 PM - Edit history (1)

From DailyKos:



Initially, the Romneys asked that their 2009 assessment, $12.24 million, be reduced to $6.8 million, maintaining that their home had lost about 45% of its value in the first seven months they owned it.
Thirteen months later, after hiring an attorney to guide them, the Romneys filed an amended appeal, contending the home had suffered a less-dramatic fall of 27.3%, to $8.9 million.



Now of course, the Romneys did this in San Diego county, but it's interesting to put this tax dodge scheme next to the news concerning the recent arrest of an LA County appraiser and the investigation of THE LA County Assessor for unlawfully reducing property values for rich citizens on multimillion dollar homes and businesses.




A former Los Angeles County property appraiser accused of improperly slashing the value on more than 100 Westside homes and businesses was taken into custody in Oregon on Monday, marking the first arrest in the wide-ranging corruption probe into the assessor's office.

Prosecutors say Scott Schenter, 49, falsified department documents and unlawfully lowered property values by $172 million for multimillion-dollar homes and businesses. Schenter allegedly secured campaign contributions from the owners for Noguez, authorities said.

"The magnitude of Schenter's suspected betrayal of public trust is almost inconceivable," Cooley said in a prepared statement. "We believe his actions are not isolated."

http://latimesblogs.latimes.com/lanow/2012/05/new-investigation-against-la-assessor-proposed-after-arrest.html



Not isolated? No kidding.


This corruption sting targeting the rich's manipulation of tax obligations just netted the LA County Assessor.

http://latimesblogs.latimes.com/lanow/2012/06/assessor-john-noguez-steps-down-amid-corruption-probe.html


There's a reason America's schools can't function - the super rich don't pay their taxes, and they get government officials to break the law for them in order to avoid it.The Romneys didn't have to file any records in their initial claim reducing their beach front property by roughly half. The rich leave that up to the government officials they've got in their pockets. Obscenely rich and corrupt people like Mitt and Anne Romney "have people for that."



I think it's time to investigate the Romneys' dirty deal in San Diego, a town known for coddling wealthy Republicans. Beach front property in Southern California doesn't "lose value." It simply doesn't. It's an abstract concept - these property values are entirely emotional, they approach infinity. They're worth whatever the most wealthy people on the planet are willing to pay for them, as Mitt and Anne Romney proved by paying $12M in cash so they could work on their tans.






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52 replies = new reply since forum marked as read
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The Romneys' PROPERTY TAX Scheme/L.A. Apprasier Arrested/Assessor Steps Down (Original Post) Segami Aug 2012 OP
Only the little people pay taxes DearAbby Aug 2012 #1
Off To The Greatest Page !!! WillyT Aug 2012 #2
This property tax thing is going from lukewarm, too flash point pretty quickly. nc4bo Aug 2012 #3
The Romney campaign referred all questions about their La Jolla property taxes to a lobbyist ... Coyotl Aug 2012 #30
What an interesting read ! Thanks. russspeakeasy Aug 2012 #4
K & R for that fabled party of 'personal responsibility.' freshwest Aug 2012 #5
K&R drm604 Aug 2012 #6
The real point is that high-prived property is not going down in value nichomachus Aug 2012 #7
That's a fair solution."if the home sells for more than its assessed value, the county will put a The Wielding Truth Aug 2012 #11
There should be a time provision on an under-priced resale, just in case dmr Aug 2012 #32
Not only that, ProSense Aug 2012 #8
My thoughts exactly. dixiegrrrrl Aug 2012 #10
Global Wraming Honest_Abe Aug 2012 #15
Very Good Point Dixiegrrrrl YOHABLO Aug 2012 #18
Tax deduction - colorado_ufo Aug 2012 #45
K & R AzDar Aug 2012 #9
Romney needs to release who he bribed Yeah Its Spin Aug 2012 #12
LOL! Segami Aug 2012 #14
make another trip to Kinkos and let us see. grantcart Aug 2012 #19
They don't care about the property taxes because their own kids go to private schools and get southernyankeebelle Aug 2012 #13
Considering a 1996 home I found not even on the beach in La Jolla is selling for 19 million now... progressivebydesign Aug 2012 #16
Yeah, but you know... Whiskeytide Aug 2012 #17
Waterfront properties SmittynMo Aug 2012 #20
How the rich stay rich matt819 Aug 2012 #21
BINGO underpants Aug 2012 #41
Yep. chollybocker Aug 2012 #42
So why are the home owners not being arrested too? docgee Aug 2012 #22
There obviously is a quid-pro-quo... Historic NY Aug 2012 #23
K&R--Nice catch! n/t librechik Aug 2012 #24
Romney is a proven dodger, early in life it was draft dodging and now he dodges taxes Thinkingabout Aug 2012 #25
"Romney is a proven dodger" Spitfire of ATJ Aug 2012 #37
Awesome. Romney's campaign is a train wreck in slow motion. berni_mccoy Aug 2012 #26
The drip, drip, drip of corruptions and lies of Rmoney are starting to quicken into one solid drip. part man all 86 Aug 2012 #27
"THe Jewel" QUALITYCONTRoll Aug 2012 #28
Last time I was in Del Mar a shack, er, bungalow on the beach was $5million. Scuba Aug 2012 #29
This is my neck of the woods nadinbrzezinski Aug 2012 #31
Beach front property in Southern California doesn't "lose value." JDPriestly Aug 2012 #33
Imagine what will happen SmittynMo Aug 2012 #38
Wow. BRIBERY. Canuckistanian Aug 2012 #34
This diary is gone. ProSense Aug 2012 #35
Thanks for catching that ProSense. It definitely looks like a ' bait & switch '. Segami Aug 2012 #36
Maybe ProSense Aug 2012 #40
k&r shanti Aug 2012 #39
Mittens has people for this - and he should fire them. Mopar151 Aug 2012 #43
Just think how much less the Romney house would be worth... KansDem Aug 2012 #44
This involves two counties in southern California... KansDem Aug 2012 #46
If the appraiser doing Romney's dirty work is arrested dynasaw Aug 2012 #47
Holy Shit! You mean when a Romney moves into a neighborhood the property values drop 45% in weeks? 1-Old-Man Aug 2012 #48
another day, another Romney tax scandal. This is fun!! cbdo2007 Aug 2012 #49
Here's Recommendation #200! Quantess Aug 2012 #50
K&R nt raouldukelives Aug 2012 #51
This is huge malaise Aug 2012 #52

DearAbby

(12,461 posts)
1. Only the little people pay taxes
Tue Aug 7, 2012, 04:41 PM
Aug 2012

It's been their goal, since, well since income tax...Rob you, and you better like it.

nc4bo

(17,651 posts)
3. This property tax thing is going from lukewarm, too flash point pretty quickly.
Tue Aug 7, 2012, 04:45 PM
Aug 2012

It's hard to imagine the depth of corruption surrounding big money and the 1%ers.

I believe this is something that should be watched carefully!

 

Coyotl

(15,262 posts)
30. The Romney campaign referred all questions about their La Jolla property taxes to a lobbyist ...
Tue Aug 7, 2012, 08:35 PM
Aug 2012

to a lobbyist

Romneys, caught in housing bust, got tax cut in La Jolla
Los Angeles Times-Aug 5, 2012
The Romney campaign referred all questions about their La Jolla property taxes to Matthew A. Peterson, a lobbyist ....

Mitt Romney, Ann Romney Got Property Tax Cut On La Jolla House ... Huffington Post

Romneys fought for lower property taxes for CA home Northwest Herald

U-T San Diego - KGTV San Diego - HispanicBusiness.com - CBS News

all 75 news articles » https://www.google.com/search?q=romney+property+taxes#q=romney+property+taxes&hl=en&prmd=imvnsu&source=lnms&tbm=nws&fp=1fdd4a4a7b568914

Two days later and only 75 news articles. This story needs legs.

nichomachus

(12,754 posts)
7. The real point is that high-prived property is not going down in value
Tue Aug 7, 2012, 04:52 PM
Aug 2012

Especially if you have acres and acres of seafront property. The idea that Romney's property dropped 50 percent or so is ludicrous.

What's going down in value are the ricky-tack tract homes thrown up be developers and sold for exorbitant amounts of money. They're collapsing, as they should, and dragging neighboring homes down with them.

The homes of the ultra-wealthy are holding their value just fine.

This is a scam by the one percent.

What the counties should do is agree to the tax cut, but then tell the homeowners that if the home sells for more than its assessed value, the county will put a lien on the property for all the back taxes at the original value -- with a 25 percent penalty.

The Wielding Truth

(11,433 posts)
11. That's a fair solution."if the home sells for more than its assessed value, the county will put a
Tue Aug 7, 2012, 05:05 PM
Aug 2012

lien on the property for all the back taxes at the original value -- with a 25 percent penalty."

dmr

(28,705 posts)
32. There should be a time provision on an under-priced resale, just in case
Tue Aug 7, 2012, 08:57 PM
Aug 2012

the under-priced resale is a ruse to re-sell at a higher value later just avoid paying their share of taxes.

This is unbelievable. Understandably, this is something I never would have thought they would do. But I'm an honest citizen.

ProSense

(116,464 posts)
8. Not only that,
Tue Aug 7, 2012, 05:00 PM
Aug 2012

but it appears Romney would rather be viewed as stupid than crooked.

Initially, the Romneys asked that their 2009 assessment, $12.24 million, be reduced to $6.8 million, maintaining that their home had lost about 45% of its value in the first seven months they owned it.

I mean, is he that stupid to have bought a house for nearly twice its actual value...in 2008?



dixiegrrrrl

(60,166 posts)
10. My thoughts exactly.
Tue Aug 7, 2012, 05:03 PM
Aug 2012

Unless he needed a tax deduction for the loss.
and no, I cannot even begin to figure out the numbers.

the good news is...beachfront property is destined to become ...less beachy fronty..with rising water levels.

Honest_Abe

(155 posts)
15. Global Wraming
Tue Aug 7, 2012, 05:12 PM
Aug 2012

Some of these rich folks will find out soon that global climate change is real, as their multi-million dollar beachfront property becomes part of the ocean.

 

YOHABLO

(7,358 posts)
18. Very Good Point Dixiegrrrrl
Tue Aug 7, 2012, 05:18 PM
Aug 2012

Besides that fact that our beach fronts will be gone soon, beach front property on any coast never loses value. What really is unfair is someone who owns a simple house on the beach and then someone builds a multi-million dollar home next door, their property taxes go sky high just because of the rich guy. Mean-while the rich guy is getting his taxes lowered and the commoner's taxes still go higher. There is no justice.

 

southernyankeebelle

(11,304 posts)
13. They don't care about the property taxes because their own kids go to private schools and get
Tue Aug 7, 2012, 05:11 PM
Aug 2012

a good education. Honestly I don't understand why people vote republican.

progressivebydesign

(19,458 posts)
16. Considering a 1996 home I found not even on the beach in La Jolla is selling for 19 million now...
Tue Aug 7, 2012, 05:13 PM
Aug 2012

that does not surprise me a bit. there is no effing way that his house dropped to even 8 million. It's ON the beach in La Jolla. I have no doubt it was a scam.

SmittynMo

(3,544 posts)
20. Waterfront properties
Tue Aug 7, 2012, 05:35 PM
Aug 2012

I visit Fla every year. A condo complex I frequent each year usually has a list of properties for sale. Even though I could never afford one, I always check. It should be noted that during this recession, the property values NEVER went down. They didn't increase a lot, but they NEVER went down. Yet Rmoney was laughing all the way to the bank when his were cut. What crooked shenanigans did Rmoney do to get his taxes cut? Never trust right wing millionaires.

matt819

(10,749 posts)
21. How the rich stay rich
Tue Aug 7, 2012, 05:39 PM
Aug 2012

Willard's 2010 tax return showed income of some $20+ million, or $55,000 per day. Most (all?) of that was returns on his investment holdings, which are generally stated at around $250 million, but which are undoubtedly higher.

I don't know the property taxes in La Jolla, but let's assume just for a moment that the annual tax reduction was $200,000, though it's probably far less. This amounts to less than 4 days's earnings.

By way of comparison, for someone taking home (not earning, but taking home) $50,000 annually, the equivalent amount Willard is dickering about is $547.

I have three words.

Pa.
Thet.
Ic.

chollybocker

(3,687 posts)
42. Yep.
Wed Aug 8, 2012, 12:27 AM
Aug 2012

It's not only about *how?* Mitt does it, it's about *why?* he does it.

He's a pathological liar.

docgee

(870 posts)
22. So why are the home owners not being arrested too?
Tue Aug 7, 2012, 05:45 PM
Aug 2012

If the appraiser was exchanging appraisals for contributions, they should be guilty also.

Thinkingabout

(30,058 posts)
25. Romney is a proven dodger, early in life it was draft dodging and now he dodges taxes
Tue Aug 7, 2012, 06:56 PM
Aug 2012

Some kind of a leader, he wants to run the government but does not assume his fair share. He robs piggy banks while at Bain and now will rob from the US to satisfy his thirst to continue his blood thirst.

part man all 86

(367 posts)
27. The drip, drip, drip of corruptions and lies of Rmoney are starting to quicken into one solid drip.
Tue Aug 7, 2012, 07:07 PM
Aug 2012

Our alert media still stuck on Dirty Harry.

 

nadinbrzezinski

(154,021 posts)
31. This is my neck of the woods
Tue Aug 7, 2012, 08:35 PM
Aug 2012

here are two points to be made.

1.- Lincoln Club, our local version of ALEC, controls quite a bit.

2.- We are in the middle of a race that will determine the future of this city (and county) quite possibly for a generation.

JDPriestly

(57,936 posts)
33. Beach front property in Southern California doesn't "lose value."
Tue Aug 7, 2012, 09:01 PM
Aug 2012

Actually, the Romneys moved in, and "Woops!" There went the neighborhood.

I have a friend who owned a property in the LA area.

A famous movie star moved in next door and property values in the area sky-rocketed.

Seems the opposite happened when Romney moved to the beach in La Jolla.

Canuckistanian

(42,290 posts)
34. Wow. BRIBERY.
Tue Aug 7, 2012, 09:06 PM
Aug 2012

Can you imagine how hard a municipal official would laugh in your face if you tried to lower your property value by that much - with ZERO documentation or filings?

This "property appraiser" should be brought in for questioning in a NEW investigation, pronto.

ProSense

(116,464 posts)
40. Maybe
Tue Aug 7, 2012, 09:59 PM
Aug 2012

you can tweak the OP to remove the diarist's commentary and simply use the information cited. In fact, most of the opinions in the original diary aren't in the OP, just the news articles. Also see the other diary referenced.

More tax troubles for the Romneys
http://www.dailykos.com/story/2012/08/07/1117567/-More-tax-troubles-for-the-Romneys

All in all, still revealing.

shanti

(21,800 posts)
39. k&r
Tue Aug 7, 2012, 09:50 PM
Aug 2012

time to start turning up some more stones in So Cal! bet this is just the tip of the iceberg for these greedy beasts!

Mopar151

(10,348 posts)
43. Mittens has people for this - and he should fire them.
Wed Aug 8, 2012, 03:36 AM
Aug 2012

Minions have to justify their existence somehow... Looks like these guys were selling tax abatements, and a bunch of minions signed up their masters.

KansDem

(28,498 posts)
44. Just think how much less the Romney house would be worth...
Wed Aug 8, 2012, 03:44 AM
Aug 2012

...if Mitt hadn't had a car elevator installed!



(assuming a car elevator represents a home improvement)

KansDem

(28,498 posts)
46. This involves two counties in southern California...
Wed Aug 8, 2012, 09:42 AM
Aug 2012
...taken into custody in Oregon on Monday, marking the first arrest in the wide-ranging corruption probe into the assessor's office.

What about the rest of California? What about the rest of the country?

Public schools in need of revenue;
Crumbling infrastructure;
Health-care crisis...

See a connection?

How many billion$ are the wealthy not paying due to scams like this one that would have gone to public services?

dynasaw

(999 posts)
47. If the appraiser doing Romney's dirty work is arrested
Wed Aug 8, 2012, 11:07 AM
Aug 2012

why is the guy who ordered this done, i.e. Mitts, still walking around?

1-Old-Man

(2,667 posts)
48. Holy Shit! You mean when a Romney moves into a neighborhood the property values drop 45% in weeks?
Wed Aug 8, 2012, 11:13 AM
Aug 2012

I guess they just don't like Mormons moving into the neighborhood.

cbdo2007

(9,213 posts)
49. another day, another Romney tax scandal. This is fun!!
Wed Aug 8, 2012, 11:30 AM
Aug 2012

Wish I knew how to do all the shit they do to save on their taxes. I wouldn't have any idea how to even begin protesting my home value.

malaise

(296,582 posts)
52. This is huge
Wed Aug 8, 2012, 03:07 PM
Aug 2012

Time to throw the criminals in prison and they include those who paid the bribes

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