You might as well have declared your location to be San Francisco Bay Area.
Had my wallet stolen at a community rec center in the Northgate area (a few miles north of downtown Seattle for those unfamiliar). There was video of the thief taking it. I was able to find out from regulars his name + phone number + address, from which I found his facebook account with several public pictures of him that made it clear he was the same man from the security video. Also was able to find some public police reports of prior arrests of the same man on various counts of theft/larceny, although no convictions that I could find. Gave all of that information to the "detective" assigned to my case. Nothing ever came of it. As best I can tell, nobody did anything beyond write down some of the information I gave them.
Someone did eventually take it seriously when the thief stole thousands of dollars from a series of banks with my wife's checkbook. I guess cash is king.
Property crimes typically have a 10-20% clearance rate. Police are too preoccupied writing traffic tickets and/or harassing poor people. If anything, reported property crimes track against unemployment/economic prosperity-- probably much stronger than police payroll.
The FBI's UCR is even more accessible at https://crime-data-explorer.app.cloud.gov/ -- where you can look at crime rates, clearance rates, types of crime all the way down to the municipality level.
What were the biggest line items on those municipalities' budgets? Police salaries, benefits, pensions and the purchasing and maintenance of law enforcement equipment and assets.
If you visit the police departments' Facebook pages, they frequently celebrate months long investigations on literal children who sell pot to their friends. There's apparently no time to solve potentially difficult-to-investigate crime when there are easy targets out there like kids smoking pot and people speeding.
But that's a pretty big if ;)
Is that a common practice?
You can't prove they did anything illegal to profit, but the IRS can audit them and prove they have not paid taxes on all their assets.