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Kelly Loeffler's Mansion Dropped $6m In Property Value Overnight, And No One Knows Why

Assessed at $10.5m in 2009, and stayed there for the next seven years but it went down to just $4.1m in 2016, saving the couple significant property taxes.
Kelly Loeffler's Mansion Dropped $6m In Property Value Overnight, And No One Knows Why
'Descante' Image from: Atlanta Fine Homes

Rich, entitled white people just hate paying taxes, any taxes, including property tax. Somehow, Loeffler and her husband managed to skive paying over $100,000 in extra taxes for a mansion that when it went on the market originally in 1997 for $16.9 but mysteriously is now worth only $4.1mil, despite numerous upgrades and improvements to the property (new kitchen, greenhouse, tennis courts, etc).

Source: The Daily Beast

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.

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.

Since then, the appraised value of the home has risen to roughly $5 million, but they are still paying about $80,000 less a year than they did when they first bought. In 2018, the home was valued at $5.5 million, and the couple paid $115,000 in property taxes for that year. In 2020, the home was valued at $5 million, with a tax bill of $112,000.

Good God almighty, Georgia. Why the hell would you ever vote for such a slimy reprobate as Kelly Loeffler when you have such a vast improvement in Reverend Raphael Warnock? This shouldn't even be a contest.

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