Last week, Chesapeake Energy – the once-proud natural gas giant that's now a shell of what it was during its raging Ponzi scheme days – announced it laid off another 15% of its staff. According to The Oklahoman_, most of the layoffs – 220 total – affected the Oklahoma City campus.
Back in the good old days, when Chesapeake layoffs were still a big breaking news item that we'd scoop the local media on, we'd follow RIF reports by playing a game of Hate The Rich, and take a sneering peek at Chesapeake CEO Doug Lawler's opulent Oak Tree mansion. We did this because it's always fun to point out that while Chesapeake was struggling and people were losing their jobs, the privileged elites who ran the company were still making out like bandits.
When we last checked on Lawler Manor in 2015, the 14,000-sq-foot home had an appraised taxable market value of $4.15-million – nearly $400,000 higher than the $3.75-million purchase price Lawler paid in 2013. As a result, Lawler paid $48K in property taxes that primarily went to fund public schools and other county services.
During this era of rising property values across the metro, we thought it would be fun to check out the home and see how much it's worth today. To our surprise, it hasn't increased at all. In fact, the taxable market value on the crib has actually dropped by over $1-million, slashing Lawler's property taxes by approximately 25%!
Check out this screenshot from the Oklahoma County Assessor website: