Drip, drip, drip.

Mitt and Ann Romney were easily able to afford a $12-million La Jolla home. But that didn’t insulate them from the winds buffeting the real estate market in the months following their purchase in 2008. After paying cash for the Mediterranean-style house with 61 feet of beach frontage, they asked San Diego County for dramatic property tax relief.

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They also filed an appeal for the 2010 tax year, claiming the house had dropped further, to $7.5 million, 38.7% less than the home’s assessed value. As a result, the Romneys have saved about $109,000 in property taxes over four years.