Fumo Asking $6 Million for Philly Mansion Assessed at $250,000
posted 6:52 pm Wed February 13, 2008 - Harrisburg
A 27-room Victorian mansion on Green Street in Philadelphia is for sale. It boasts seven fireplaces, three kitchens, a billiard room, a wine cellar, and a shooting range. The asking price is $6 million. The guy doing the asking is state Senator Vince Fumo.
Fumo's real estate is sparking real questions. Why does the property of a powerful politician have a tax assessment of $250,000, far below it's apparent market value?
"For a guy who wants to raise taxes on everybody else, I don't think he's paying his fair share," said Matt Brouillette of the Commonwealth Foundation. "He ought to voluntarily hand over those kind of tax dollars, whether or not his home's been assessed at such a large value."

Rick Martini is a longtime Midstate realtor. He says most of us pay less in tax than what our houses are actually worth. However --
"If someone had a house worth six million dollars and it was assessed at $250,000 some red flags should go up," Martini said. "That's a gross inequity."
In 2003, the Philadelphia tax assessors tried to increase the house's tax value to $400,000. Fumo appealed and it was settled at $250,000. He also successfully fought to have records about upgrades he did to the house sealed.
"If I was a taxpayer of Philadelphia I would be outraged," said state Representative Ron Marsico (R-Dauphin). "Actually, I'm outraged as a Pennsylvania taxpayer."
Fumo is no stranger to accusations of outrageous behavior. He faces trial in September on a 141 count federal indictment. Among the allegations: Fumo used state workers to do renovations on his 100-acre farm in Halifax and the Philadelphia mansion.
If you're thinking the actions of a Philadelphia senator don't affect you, some say think again. "Not only does he spend other people's money, but he does bring it home to the district," Brouillette said. "So he's grabbing our money in central Pennsylvania and taking it home to Philadelphia with him."
Senator Fumo refused to comment for this story. The spokesman for Philadelphia's tax assessor told abc27 News that just because Fumo is asking $6 million, it doesn't mean the house is actually worth that.
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