Effect of Secret Service-Installed Security System on the Fair Market Value of Former President Nixon's Residence
GGD-85-82: Published: Sep 20, 1985. Publicly Released: Sep 20, 1985.
- Full Report:
GAO was asked to conduct an analysis to determine the amount for which a security system that protected the residence of a former president could be sold to the former president after it was determined that removal of the system was not economically feasible.
GAO found that the fair market value of the residence was not increased as a result of the security system which the Secret Service installed, and the Presidential Protection Assistance Act only requires property owners to pay for retention of such systems if the fair market value of the property where the system is installed is increased.