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Cindy McCain's California condo in tax default

June 28, 2008 |  6:27 pm

Seems no one remembered to pay taxes for the last four years on a beachfront condo in La Jolla owned by Cindy McCain, Newsweek is reporting:

When you're poor, it can be hard to pay the bills. When you're rich, it's hard to keep track of all the bills that need paying. It's a lesson Cindy McCain learned the hard way when NEWSWEEK raised questions about an overdue property-tax bill on a La Jolla, Calif., property owned by a trust she oversees. Mrs. McCain is a beer heiress, with an estimated $100 million fortune and, along with her husband, she owns at least seven properties, including condos in California and Arizona.

Apparently an elderly aunt lives in the condo and the bank that handles the trust didn't receive the tax bills. Soon after the news weekly asked McCain about the tax bill, San Diego county received a $6,744.42 payment. But Newsweek says she owes another $1,742 which, if not paid by July 1, throws the property back into default. The full story in Newsweek is here.

--Veronique de Turenne

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