White House Senior Adviser Valerie Jarrett: Another High Powered “Super Investor”

Wow. You know Warren Buffett, long considered the greatest investor of all time averaged 20% year over year. But Harry Reid, Nancy Pelosi, and Valerie Jarrett put Buffett to shame. Gosh, they must be in the wrong business!

Wait.

No, that’s not true.

(From The Washington Free Beacon)

Jarrett currently owns an 11-percent equity interest in Kingsbury Plaza, a 46-story luxury apartment complex developed by Habitat between 2005 and 2007 at a cost of more than $100 million.

She valued the investment at between $1 million and $5 million on her 2011 financial disclosure form, up from $250,001 in 2010. A Jarrett spokesman told the Washington Times that the investment was “a direct result of her 13 years working for Habitat.”

Cook County records show the Kingsbury property is worth around $27.2 million, but thanks to a series of legal appeals beginning in 2003, the land and building are assessed at a much lower value for tax purposes. Since 2008, the property has been designated a “special commercial structure” and is taxed at a value of just $6.8 million, or 25 percent of the actual value.

Asked how such a property could enjoy such a low taxable value, an official with the Cook County Assessor’s Office told the Free Beacon that the property’s owners “must have good attorneys.”

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