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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe 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:
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.
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.
.
DearAbby
(12,461 posts)It's been their goal, since, well since income tax...Rob you, and you better like it.
WillyT
(72,631 posts)nc4bo
(17,651 posts)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)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.
russspeakeasy
(6,539 posts)freshwest
(53,661 posts)Interesting.
nichomachus
(12,754 posts)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)lien on the property for all the back taxes at the original value -- with a 25 percent penalty."
dmr
(28,705 posts)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)but it appears Romney would rather be viewed as stupid than crooked.
I mean, is he that stupid to have bought a house for nearly twice its actual value...in 2008?
dixiegrrrrl
(60,166 posts)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)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)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.
colorado_ufo
(6,256 posts)HAHAHAHAHAHAHA! That would have required him to have taxes to pay.
Yeah Its Spin
(236 posts)Segami
(14,923 posts)grantcart
(53,061 posts)southernyankeebelle
(11,304 posts)a good education. Honestly I don't understand why people vote republican.
progressivebydesign
(19,458 posts)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.
Whiskeytide
(4,657 posts)... the tans do look good.
SmittynMo
(3,544 posts)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)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.
underpants
(196,714 posts)well put
It's not only about *how?* Mitt does it, it's about *why?* he does it.
He's a pathological liar.
docgee
(870 posts)If the appraiser was exchanging appraisals for contributions, they should be guilty also.
Historic NY
(40,069 posts)librechik
(30,957 posts)Thinkingabout
(30,058 posts)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.
Spitfire of ATJ
(32,723 posts)The "
Not So) Artful Dodger"
berni_mccoy
(23,018 posts)part man all 86
(367 posts)Our alert media still stuck on Dirty Harry.
QUALITYCONTRoll
(48 posts)WE wonder why Willard loves "La Jolla"....Pirates do love jewels..
Scuba
(53,475 posts)nadinbrzezinski
(154,021 posts)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)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.
SmittynMo
(3,544 posts)when he moves in the White house.
Canuckistanian
(42,290 posts)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)Weird stuff!
Bait and Switch - Did you rec the Romney Property Tax Diary?
http://www.dailykos.com/story/2012/08/07/1117815/-Did-you-rec-the-Romney-Property-Tax-Diary
Segami
(14,923 posts)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.
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)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)...if Mitt hadn't had a car elevator installed!

(assuming a car elevator represents a home improvement)
KansDem
(28,498 posts)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)why is the guy who ordered this done, i.e. Mitts, still walking around?
1-Old-Man
(2,667 posts)I guess they just don't like Mormons moving into the neighborhood.
cbdo2007
(9,213 posts)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.
Quantess
(27,630 posts)K & R
raouldukelives
(5,178 posts)malaise
(296,582 posts)Time to throw the criminals in prison and they include those who paid the bribes