Valery Leontyev found a loophole in US legislation and saved more…
Valery Leontyev found a loophole in US legislation and saved more than 27 million rubles on his mansion in Miami.
Consensus
- Valeriy Leontiev transferred his Miami mansion into a family trust named Valerii Leontiev Trust in May 2015.
- The transfer was conducted through his wife, Ludmila Isakovich.
- The purchase price recorded in the documents was $10.
- Leontiev and his wife retained the Homestead Exemption for their primary residence.
- This exemption allowed them to maintain the Save Our Homes program benefits, limiting tax increases despite rising property value.
- The market value of the mansion increased from approximately $2.94 million in 2015 to $8.58 million by 2025.
- Taxable base rose only slightly, from $2.94 million to $3.37 million over ten years.
- The family saved about $350,000 (approximately 27.3 million rubles) in property taxes due to the tax strategy.
Points of divergence
- Leontiev's performance fee for Russians was allegedly raised to 17 million rubles, five million more than for foreigners; his manager Boris Chigirёv dismissed this as 'nonsense'. — vm
Coverage (2 sources)
- Baza: Валерий Леонтьев сэкономил миллионы на налогах за особняк в Майами — Вечерняя Москва
- Valery Leontiev found a loophole in US legislation and saved more than 27 million rubles on his Miami mansion. — Baza