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Romneys Sought Property Tax Relief On La Jolla Home In 2008

Presumptive GOP presidential nominee Mitt Romney and his wife, Ann, asked San Diego County for property tax relief after paying cash for their $12 million Mediterranean-style beachfront La Jolla home in 2008, it was reported today.

Mitt Romney's home on Dunemere Dr. in La Jolla.
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Above: Mitt Romney's home on Dunemere Dr. in La Jolla.

San Diego County assessor records show the Romneys' asked that their 2009 assessment, $12.24 million, be reduced to $6.8 million, maintaining that their home had lost about 45 percent of its value in the first seven months they owned it, according to a Los Angeles Times report.

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 percent, to $8.9 million, the newspaper reported.

The Times reported that the couple filed an appeal for the 2010 tax year, claiming the house had dropped further, to $7.5 million, 38.7 percent less than the home's assessed value. As a result, the Romneys have saved about $109,000 in property taxes over four years, according to The Times.

Romney's wealth is estimated at $250 million. He has rejected calls from Democrats and Republicans to release his income tax returns prior to 2010.

Since the real estate market crashed, about 250,000 San Diego County homes have been reassessed at lower values.

Comments

Avatar for user 'Peking_Duck_SD'

Peking_Duck_SD | August 6, 2012 at 1:43 p.m. ― 2 years, 1 month ago

First off, in fairness to Willard and his wife Ann, anyone who owns a home that has lost value is entitled to petition the county tax office for a new property tax assessment.

I don't fault them for that.

I did the same thing (although the cost of my home is far below Willard's).

Where it gets sticky is this hiring of lawyers to go back and amend the original appeal.

That is a huge red flag, and it shows me that Willard was indeed trying to cheat his way out of paying taxes he legally owed the government by overestimating the drop in his mansion's worth.

I used to think healthcare reform was Willard's biggest achilles heel, but now I'm starting to think it's taxes.

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Avatar for user 'Peking_Duck_SD'

Peking_Duck_SD | August 6, 2012 at 1:56 p.m. ― 2 years, 1 month ago

By the way, today the television news is showing reels of Willard going grocery shopping.

This brings back memories of when HW Bush was mesmerized by a grocery scanner in 1992.

Are we supposed to believe that because Willard, someone who has never had to worry about buying his own groceries his entire life, does a planned, staged, filmed prop-appearance pushing a cart through a market we are supposed to believe he suddenly relates to us commoners?

How **Bourgeoisie!!**

I would have liked to see the cameras follow Willard around **after** his little shopping stunt.

Did Willard actually take the groceries back to his seaside mansion and unload them himself?

Did Willard or any of his family members (i.e. non hired-help) actually cook or prepare or consume any of the groceries?

Or, after the filmed stunt was over, did Willard disinfect his hands, jump into his chauffeured limousine, and proceed directly to Rancho Santa Fe's Mil Fleur where white gloved servants gently placed a soft cloth napkin on his lap and proceeded to serve him succulent duck l'orange and delectable morsels of fine high cuisine sprinkled with bovine snout-snuffed out truffles?

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Avatar for user 'Peking_Duck_SD'

Peking_Duck_SD | August 6, 2012 at 2:03 p.m. ― 2 years, 1 month ago

OK, sorry to keep posting here, I don't think anyone is even reading this article anyway - but here is what I don't get if anyone would like to indulge me in a little debate here:

If wealth is not something to be ashamed of, and if becoming wealthy in America is the result of hard work and leadership as Willard and his supporters propose, then why is Willard trying so hard to run away from his wealth and pretend he is someone he is not (like a grocery shopper)??

Why doesn't he just own it?

He would look a lot more believable, professional, and presidential if he simply owned his net worth instead of saying and doing silly things like "*I have some friends who are NASCAR team owners*," or, "*[My wife] drives a couple of Cadillacs*"?

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