The Coinkydinks Keep Piling Up

Grifters

Sen. Kelly Loeffler and supporter KKK enthusiast Chester Doles

Coinkydinks keep piling up for Sen. Loeffler:

Value of Loeffler’s Mansion Dropped $6M Overnight—and Nobody Can Explain Why

When Sen. Kelly Loeffler (R-GA) and her husband, Jeffrey Sprecher, bought a 15,000-square-foot Atlanta mansion known as “Descante” for $10.5 million in 2009, it was the most expensive private home purchase in the city’s history.

The value of the estate, as appraised by Fulton County government officials for the purpose of calculating annual property tax dues, remained the same, $10.5 million, for the next seven years. Then, in 2016, the appraised value suddenly plunged to $4.15 million—a whopping 60 percent decline.

Prepare yourselves for a shock, Gentle Reader:

The result was a dramatic cut to the couple’s property tax bill.

Originally, they were paying $200,000 annually to the city and county governments. In 2016, after their home’s value dropped, they paid $90,000.

Now, we’re not saying that Loeffler is a tax cheat, we’re just saying that this is weird.

The devaluation of the Loeffler-Sprecher estate, and lower tax bill, came after the couple invested significantly in improvements to the property. In 2015, they spent nearly $90,000 to renovate the kitchen, $150,000 to construct a new greenhouse, and $125,000 on various outdoor improvements, records filed with the city show.

And it’s especially striking given that Atlanta was undergoing a real-estate boom at that time. Home prices in the metro area surged by 81 percent from 2012 to 2020, according to the Atlanta Journal-Constitution.

Now, I could understand if their neighbors property values went down, what with a couple of known grifters moving in next door (Pro tip: don’t loan them any gardening tools), but…

Seven of Loeffler and Sprecher’s eight closest neighbors saw their own property values increase as Descante’s fell, according to records maintained by Fulton County. The couple’s immediate next-door neighbors did see their home’s appraisal shrink—a far more modest decline from $4,152,800 to $3,269,100—but only after they filed an appeal with the county challenging the valuation.

Well, surely the Assessor can explain this, there must be some sort of paper trail…

What was behind the precipitous decline is not apparent in city and county records reviewed by The Daily Beast. In a statement, a spokesperson for Fulton County was unable to offer an explanation, either.

“The employees responsible for these changes, including the appraiser, the Residential Property Manager, the Deputy Chief Appraiser and the Chief Appraiser, are no longer within Fulton County and there is no documentation suggesting the cause of these changes,” said the spokesperson…

Some longtime observers of Fulton County’s government speculated that the value drop may have been the result of some deliberate readjustment of the home’s value—or simply an error on the part of the assessor’s office. Either way, the move cost the county a significant amount of money.

Isn’t that convenient.

This entry was posted in Grifters Gotta Grift, Sen. Kelly Loeffler, Tax Cheat, Taxes. Bookmark the permalink.

5 Responses to The Coinkydinks Keep Piling Up

  1. Now, we’re not saying that Loeffler is a tax cheat, we’re just saying that this is weird.

    Well, I’ll say it…she’s a tax cheat.

    This isn’t some deep insight into her finances, but pretty much anyone who can afford a $10.5 million mansion in the US of A can pretty much be assumed to be cheating on their taxes large and small. Our vaunted 0.01% are , as a rule, venal, amoral, greedheads. That’s how you get to be the 0.01% in the good ol’ US of A.

    “Only the little people pay taxes”

    Liked by 3 people

  2. GranDude says:

    She paid attention at tRump College.

    Liked by 1 person

  3. Dennis Cole says:

    “The employees responsible for these changes, including the appraiser, the Residential Property Manager, the Deputy Chief Appraiser and the Chief Appraiser, are no longer within Fulton County…

    “Here’s a little going-away present for you, after all you’ve done with us and for us,” the Loefflers both said, handing over plain brown paper sacks stuffed with cash.

    Like

  4. sos says:

    All this time I thought this sort of thing was due to “vagrancies of the market”.

    Like

Comments are closed.