REPORT: Dem Overpays for Land from Future Donor
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A man who sold a plot of land for double its assessed value to Democrat congressional candidate Dan McCready later made two donations to the campaign.
McCready, who turns 36 next week, is the party’s nominee in a special congressional election for North Carolina’s 9th District. In 2016, he purchased a parcel of land from John Leekley in Rutherford County for $1.2 million, more than double the assessed value in tax records. Although tax assessments do not always reflect market or transactional values, McCready also appears to have undervalued the property on his 2018 congressional campaign finance disclosure, an action that is now drawing scrutiny from a D.C.-based ethics watchdog.
The article goes on to state the following:
Records from Rutherford County show a sale in 2016 of the tract of land comprised of about 524 acres from Leekley to DL Land Ventures, LLC, a limited liability company formed by McCready. The sale price was $1,214,500. Tax records from 2017 and 2018 for the plot show a “real value” assessment of $577,300. The latest property summary shows the 2019 appraised value of land at $593,300, according to a county revenue website.
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— Free Beacon (@FreeBeacon) July 11, 2019
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