A new Daily Beast investigation uncovered a mysterious and unexplained depreciation in the value of ultra-wealthy political mega-donor Senator Kelly Loeffler’s extravagant Atlanta mansion, known as “Descante.” For seven years, Loeffler’s mansion was valued at $10.5 million before suddenly plunging $6 million in value––“a whopping 60 percent decline.” The result of that substantial drop “was a dramatic cut to the couple’s property tax bill.” The devaluation of Loeffler’s estate came immediately after Loeffler “invested significantly in improvements to the property” and as “Atlanta was undergoing a real-estate boom” with home prices surging across the metro area. As Loeffler’s property value plummeted, seven of her closest neighbors’ property values increased, raising flags for property-tax experts who called it “very unusual.”
This latest investigation comes as Loeffler faces growing scrutiny into her numerous stock trading scandals, shady business practices, and self-serving lies.
IN CASE YOU MISSED IT
The Daily Beast: Value of Loeffler’s Mansion Dropped $6M Overnight—and Nobody Can Explain Why
By Sam Brodey and William Bredderman
Key Points:
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