- The value of Sen. Kelly Loeffler’s lavish Atlanta mansion mysteriously plunged four years ago, resulting in a dramatically lower property tax bill. The couple had been paying $200,000 a year in city and county taxes, but the 60-percent drop in their home value lowered that bill to $90,000.
- 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.
- The devaluation came during a real-estate boom in Atlanta, where home prices have jumped by 81 percent since 2012, and one year after the couple spent at least $365,000 on improvements to the property.
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