LA JOLLA, Calif., Aug. 6 (UPI) -- County assessor records indicate Mitt Romney received a real estate tax reduction of $109,000 on his La Jolla, Calif., home after asking for a reassessment.
After buying the home for cash in 2008 for $12 million, Mitt and Ann Romney asked San Diego County for property tax relief, the Los Angeles Times reported Monday, claiming their home, assessed in 2009 at $12.24 million, lost about 45 percent of its value in the first seven months of their ownership and that it should be properly assessed at $6.8 million. An amended appeal was filed 13 months later, contending the home's value had suffered a decline of 27.3 percent, to $8.9 million.