Sen. Kelly Loeffler's property tax plunged after mansion's value mysteriously dropped

[Roisin Ni Fiachra]

The value of Sen. Kelly Loeffler’s lavish Atlanta mansion mysteriously plunged four years ago, resulting in a dramatically lower property tax bill.

The Georgia Republican bought the 15,000-square-foot mansion in 2009 with her husband Jeffrey Sprecher for $10.5 million, then the most expensive home purchase in the city’s history, but the value suddenly dropped to $4.15 million in 2016, reported The Daily Beast.

“You know something’s wrong there, if there was just a singular discount,” said R.J. Morris, a former member of the Fulton County Board of Assessors who reviewed the tax documents with the couple’s names redacted.
snip---
Even more curiously, seven of their eight closest neighbors saw their property values rise, according to records kept by Fulton County, where officials were unable to offer an explanation for the discrepancy.

https://www.rawstory.com/2020/12/sen-kelly-loefflers-property-tax-plunged-after-mansions-value-mysteriously-dropped/

[exboyfil]

1. These people have more money than Croesus

and it is still not enough. How can you vote for people like this?

[Johnny2X2X]

3. Grifting is like an addiction to them

People like Trump and Loeffler become obsessed with ways they can game the system. If they see an opportunity to get a little more for themselves, they take it 100% of the time. They physically cannot help themselves, they feel like they'll burst into flames if they don't wring every last penny out of every possible opportunity to grift.

Trump never pays for anything, he always finds a way for someone else to pay. The thought of someone like him having the entire US treasury at his fingertips is nauseating. We will spend generations trying to figure out all of the thousands of ways Donald Trump scammed US taxpayers while President.

[not fooled]

19. That's an excellent description

of what must motivate these people. It's so foreign to the way most of us look at the world that until your explanation it hadn't occurred to me that they are literally obsessed with scamming society to accumulate more and more money. But, after reading your post, it makes sense, albeit because these people are twisted.

[Johnny2X2X]

22. There are more people like them than you think

I've known some great small business owners, but the majority of them have the same mindset, just maybe not to the degree of dishonesty Trump does.

Owning a small business is often about watching every penny in order to turn a profit, it becomes an obsession to figure out ways to save a buck or two. And the system is set up with so many opportunities to work within it to pay less in taxes, get more credits, and save on expenses. It's a fine line between working the system and gaming it.

[2naSalit]

27. It becomes an addiction. ...nt

[DENVERPOPS]

35. Not only trump scamming US Taxpayers

but the entire RepubliCON administration, his appointees, and the entire group of RepubliCON Senators

It was like a free for all, (literally) for all of them.....many were allowed in to play rape and run, and then left after they had fattened up their bank accounts by their actions while in office.....

All Senator Twat did was take a page out of Trump's playbook for the past decades, and use it on her personal Tax reduction plan........
You have to ask yourself, when is enough, enough. Evidently never for her and her Uber Wealthy husband.......
Same for all the Uber Wealthy across the entire nation.........

[Johnny2X2X]

36. Trump doesn't trust anyone who is honest

Trump is a criminal, he only trusts people he has leverage over, he get leverage by having them commit crimes with/for him. It's exactly how the mafia operates.

[mitch96]

5. I think its like notches on a six shooter. How many times can they screw the system..

My motto is follow the money.... Who preformed the appraisal? who was his boss and his bosses boss. Did their bank account suddenly swell? Did someone in the office get a big
promotion??? power and money is all these repukes understand...
m

[TheRickles]

21. Good points. Hopefully there are some good investigative journalists in Atlanta.

[PatSeg]

9. Exactly

There is never enough, so why not become a senator so you can find ways to make more, like get some really cool insider stock tips. These people are obscene.

[Escurumbele]

14. I do my due diligence on all candidates, all of them, but I think I would go with

a semi formed opinion just by looking at Loeffler's face, she has this very mean look, there is some discomfort in her soul that comes out of her eyes...I don't know, maybe I am biased, but that is what I see.

[japple]

18. Amy Coney Barrett's eyes are the same way.

[not fooled]

20. ++++++++++++

and I don't usually draw conclusions based on people's looks, but these two...

[Hekate]

31. My husband goes by the eyes, and he's been right every time

My husband goes by the eyes, and he’s been right every time.

I was raised to believe “don’t judge a book by its cover,” and other sayings that if taken too far cause you to override your instincts and intuition.

He was raised to listen to his instincts and intuition, and he’s really much better at it than me. When he looks at a public figure on TV and says their eyes are “crazy” or “empty” or “dead” — I now mute the tv for a bit and take a second look at body language, and yes, the eyes.

[olegramps]

16. It declined in value due to the infestation of the property by MAGats.

[SharonAnn]

34. They have more mobney because they steal more money. "Behind every great fortune is a great crime."

Voltaire quote?

[AZ8theist]

42. SERIOUSLY????

Can these two Georgia Senators be any MORE VILE SCUM??????

They are both in it for THEMSELVES. How much more fucking obvious does it get???

Seriously, Georgians.......HOW CAN YOU SUPPORT THESE TWO PIECES OF SHIT????????????????

[bullwinkle428]

2. Is this the same kind of "trickeration" that Chump has pulled for years

with so many of his properties?

[Rebl2]

17. Maybe she

called him up and asked how do I get away with this. Hope the folks in Georgia are paying attention to this.

[RVN VET71]

41. Some are. I hope 51% of the voters are

and vote accordingly.

I had a thought, a sort of happy one, that "come the revolution" people like these 2 would be rendered into dog food. Then I realized that such an act would only poison a lot of innocent dogs.

My prediction for the race as a Marylander who only knows what he reads in the internet:

Loeffler will lose, not so much because she's a greedy grifter as because she affects a robotic personality in public. Georgians of faith will either not vote (if they are GOP-leaning) of vote for the pastor.

Purdue's contest is going to be very close because he's a white guy who wears suits. True, he's a crook who was called out in a public debate as a criminal -- and could muster no response -- and he has also appeared in public with his lips puckered fast to Trump's bottom, but if the white Republican voters who were crushed by Trump's defeat come out for him (and they will) he could squeak by Ossoff who, after all, is jewish, like Leo Frank, doncha know?

[Captain Zero]

32. It's exactly what Trump does with tax valuations

Now has she taken a mortgage on it and did she value it HIGHER for that purpose? Because that would make her the True Trumper.

[Pacifist Patriot]

4. Pick me! Pick me! I can offer an explanation.

[tanyev]

6. That's a real riddle wrapped in a mystery inside an enigma.

[jcgoldie]

7. Its actually legit...

The property value plunged because neighbors found out ignorant Magats moved into the neighborhood...

[Ilsa]

8. This kind of corruption needs to be an AJC headline

and a tv ad for both democrats, slamming republicans as corrupt.

[Mr. Ected]

10. I live in Georgia and work with the tax assessors' offices daily

Either the tax assessor was on the take, or an appraiser undervalued the property in order to lower the assessed value, or an appraisal was doctored. The fact that adjoining mansions' values didn't also decline points to the fact that this was a singular event and someone has defrauded the taxpayers of Fulton County.

These people make me sick.

[padah513]

12. Thanks for the explanation

I was wondering how they might have done it.

[pandr32]

26. +1

I certainly hope this is resolved with criminal charges and/or heavy fines.

[GoCubsGo]

11. Using Trump tactics for tax evasion.

No doubt she's just the GOP tip of the ice berg in that regard.

I wonder how long it will be before she throws her husband under the bus, and blames this on him.

[keithbvadu2]

13. Luckeeeeeeeee ducks!

[mn9driver]

15. Insider trading, tax cheating; bets on whether any charges are ever brought?

I won’t hold my breath. These folks never seem to be held accountable.

[Pepsidog]

23. So they bought home during housing crises when prices were plummeting and now worth even less. A guy

Who owns the NY Stock Exchange probably isn’t a buy high-sell low fan.

[TheBlackAdder]

24. "seven of their eight closest neighbors saw their property values rise" They did that in my town.

.

The net result was that everyone's property taxes were published and people were able to inspect everyone who lived around them. It turned out that all politically connected people and certain employees and management of state, county and township boards were given reduced assessments while their neighbors taxes were raised. This was the work of a third-party tax assessing firm that was working with the township's tax assessor.

This forced a reversal of the town's tax assessment to the last stable version and then a FREEZE on assessments for 10 YEARS!

.

[George II]

25. That's the same thing that trump and the trump organization is being investigated for....

....undervaluing property to reduce tax liability.

[WinstonSmith4740]

33. Yep...

She just took a page out of his play book. Rachel covered this during the campaign in 2016, but I guess it was dismissed as fake news by the MSM. Seems he would under value for tax purposes, but over value the same property when he was using it as collateral. Or selling it like he did to a Russian oligarch who was trying to hide money from his soon to be ex-wife. It was appraised at something like 1.8 million (for taxes), but sold for around $65 million. I believe in the real world, that's called money laundering, and possibly tax fraud.

[Hekate]

28. It may have been because of the rat infestation. When you see 2 you know there are dozens more.

[BobTheSubgenius]

29. She has something in common with brass monkeys.

And it's not the ability to withstand cold. It takes some nerve to go out in public when you are as terrible a person as KL, let alone run for a very significant office.

[cbdo2007]

30. I'll be you anything they'll say there was a clerical error and the 1 was left off the $14.15 mil

They'll always find someone to blame and will never take responsibility and say their accountants should have noticed but they didn't.

[11 Bravo]

37. She is so fucking crooked she has to screw herself into her pantyhose.

[SunSeeker]

38. K & R for exposure.

[TexasBushwhacker]

39. Here's its record with Fulton County

https://iaspublicaccess.fultoncountyga.gov/datalets/datalet.aspx?mode=profileall&sIndex=0&idx=107&LMparent=20

Owned by not 1 but 2 LLCs

[Aussie105]

40. Property evaluation time!

This tap leaks!

Valuer: Right! Take $1M off the value.

These bathroom tiles are stained!

Valuer: Right! Take another $1M off the value.

The lawn is looking shabby.

Valuer: Right! Take another $1M off the value.

The kitchen is starting to look dated.

Valuer: Right! Take another $2M off the value.

Not too hard, is it? Or maybe it's done to avoid property tax? Oh no, how subversive, how devious! How could they? /sarcasm

Valuer: Now where is that brown envelope with $50K in it?