https://www.businessinsider.com/loeffler-mansion-mysteriously-dropped-in-value-offering-huge-tax-cut-2020-12
John Haltiwanger
Dec 16, 2020, 1:11 PM
The value of GOP Sen. Kelly Loeffler's Atlanta mansion, known as "Descante," dropped by roughly $6 million in 2016, and no one knows why, The Daily Beast reported on Wednesday.
Loeffler and her husband, Jeffrey Sprecher, saw their property-tax bill drop precipitously as a result, even after investing hundreds of thousands of dollars in improvements and as home prices went up across the city.
The couple bought the home for $10.5 million in 2009. According to The Daily Beast, it was the most expensive private home purchase in Atlanta's history.
The property value held steady for the next seven years, based on appraisals from local officials for tax purposes. But in 2016, it mysteriously dropped by 60%, to $4.15 million.
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