Romneys, caught in housing bust, got tax cut in La Jolla [View all]

[tawadi]

Source: Latimes

By Robin Abcarian, Los Angeles Times

August 5, 2012, 9:31 p.m.

Mitt and Ann Romney were easily able to afford a $12-million La Jolla home.

But that didn't insulate them from the winds buffeting the real estate market in the months following their purchase in 2008.

After paying cash for the Mediterranean-style house with 61 feet of beach frontage, they asked San Diego County for dramatic property tax relief.

Read more: http://www.latimes.com/news/nationworld/nation/la-na-romney-property-tax-20120806,0,4926772.story

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Aww, his ocean front home in La Jolla lost 45% of its value.