Los Cerritos Community News has been told by the Santa Barbara Independent Newspaper that Caruso also flexed his political muscle in Santa Barbara to get a tax reduction.
His proposed hotel, The Miramar, recently came to an agreement with the Santa Barbara County Assessor’s Office for a reduction in property value.
While Caruso and his political strategist Matt Middlebrook, said the value of the property was $5.5 million, the county had appraised the property at $54.9 million. The two sides stipulated to a value of $30.7 million, which means Caruso will have saved a few hundred thousand dollars this year on taxes. Caruso and company also negotiated to keep the Transient Occupancy Tax, which is 8%.
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