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Russian tycoon's Silicon Valley mansion worth half

By thomas.wong1986   Follow   Mon, 9 Jul 2012, 1:23am   608 views   3 comments
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Russian tycoon's Silicon Valley mansion worth half its $100 million purchase price, assessor says
By Pete Carey, pcarey@mercurynews.com, 07/05/2012 - 1:34 PM EDT
The golden touch of Russian investor Yuri Milner, who made a killing on Facebook, apparently doesn't extend to Silicon Valley real estate.

The Santa Clara County assessor said Tuesday that the Los Altos Hills mansion the Russian billionaire paid $100 million for last year is worth a mere $50 million.

The mansion's purchase, through a limited liability corporation called LaPaloma Property, made headlines last March as the largest amount ever paid for a home in the U.S. Perched on a hill in Los Altos Hills, the 17-acre estate has a commanding view of the Bay Area.

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1. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   1   10:22pm Mon 9 Jul 2012   Share   Quote   Permalink   Like   Dislike   probably the whole deal was a money laundering job. thus the appraisal is not important.

2. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   2   1:32am Tue 10 Jul 2012   Share   Quote   Permalink   Like   Dislike (1)   ptiemann says That friendly assessor just gave up $600k a year. I wonder how this was achieved. You have to ask for a reduction in your property tax.. from the county! He isnt going to get it.. nor will he ever see the other $50 Million ever! Ever see a Russian Billionaire BEGGING for Tax Relief ! ... ? He fucked up.. He fucked up BIG TIME like so many others !

3. tatupu70 Follow Befriend (3) 15 threads 5,637 comments

   3   5:46am Tue 10 Jul 2012   Share   Quote   Permalink   Like   Dislike   thomas.wong1986 says You have to ask for a reduction in your property tax.. from the county! If you disagree with the assessment. But the assessor just lowered the value by 50% so his tax bill WILL go down like ptiemann said. No need to appeal...