Bob McPhail 5:30 p.m., May 25
The State of Brian Bilbray's Finances
A rush of sorts is on among local Democrats to declare for the congressional seat of the GOP’s Brian Bilbray, generally considered more vulnerable after the redistricting shrank the margin of Republican voters in his previously safe district.
Both former Assemblywoman Lori Saldaña and ex-San Diego city councilman Scott Peters have announced their intent to run in the Democratic primary to take on Bilbray, setting off a nasty battle between liberal and centrist Democrats that could benefit the incumbent.
But if Bilbray loses out, he will have a tidy nest egg to fall back on, judging from his personal financial disclosure statement covering 2010 and filed this June 15.
After a previous flap, covered by the Union-Tribune, regarding the reported value of Bilbray’s wife’s tax business, Bilbray Tax Service of Imperial Beach, which has fluctuated wildly over the years he’s been disclosing it, its worth has settled down to a reported $15,001-$50,000, with income of between $50,001 and $100,000.
His wife also owns property in Picayune, Miss., the disclosure says, worth from $100,000 to $250,000, and bringing in rent of between $5,000 and $15,000.
In addition, she has an account at the First National Bank of Picayune worth between $1001 and $15,000.
Bilbray reported he’s inherited a 20 percent interest in the Clute Administrative Trust, valued at between $500,001 and $1 million, with his share of the rents between $15,001 and $50,000.
The trust owns eight pieces of real estate, ranging from a 50 percent interest in a Laughlin, Nevada condo valued at $44,000, an $850,000 house in Carlsbad, to a ten-unit apartment building in Bilbray’s old home town of Imperial Beach, where he was once mayor, valued at $1.195 million.
Total value of the trust’s real estate, according to the disclosure, is $4,264,000, and it had rental income of $144,710.
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The former county supervisor has an account at National Retirement Solutions ranging between $100,001 and $250,000, along with a deposit at the county credit union worth between $15,001 and $50,000.
He also receives lifetime pensions from the state pension system as well as the county’s, the report says, getting $13,000 from the state and $15,000 from the county.
Bilbray is co-chairman of the advisory board of the Federation of American Immigration Reform, but he reported receiving no money from that.
More like this:
- Peters late, DeMaio reveals Reason — July 25, 2014
- Peters, Bilbray spar over taking of public pensions — Oct. 4, 2012
- Among Late Filers, Issa Discloses Huge Loans, Filner Reveals Mortgages and Free Trips — Aug. 20, 2012
- Congresswoman from Kensington Borrows Against Her Homes — June 15, 2012
- Mystery money — July 1, 2009