Claimed value of sleepy NY estate could come to haunt Trump

struth

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Trump will not go to jail over this.
As usual, he will deny any knowledge, blame others, blame a witch hunt

He will be fined, he will tie it up in appeals and ultimately not pay.

Rinse/Repeat
Why should he go to jail over this accusation? I mean if this is all the left wing's investigation has turned up.....it's a big zero
It is just the tip of the iceberg

The TRUMP empire is a House of Cards built on the TRUMP name and false valuations of assets

This is just the first card
wow...five years and we are just at the "tip of the iceberg" - and this is it? nothing? hahaha

I've heard your line before over and over again the past five years,,,with a big zero in the end
Trump has been hiding for five years.
You can’t investigate ME.....I am the PRESIDENT

Well, he ain’t the President anymore
Private Citizen Trump now has to pay the piper
um, he was investigated....repeatedly, often, over and over again. He wasn't hiding anywhere, his taxes were all filed with the Govt agencies
 

White 6

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Undervaluing properties for taxes and overvaluing properties for insurance is at the core of one of the investigations.

And they're looking very closely at Deutsche, which is the only bank that would go near him, and which has had other legal, uh, "issues".

:popcorn:
Duche Bank is famed world wide for money laundering.
 

Lesh

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
A fair point. But if you CLAIM your house is worth 2 million when trying to get a loan using it for collateral?

Oops
 

Blues Man

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
A fair point. But if you CLAIM your house is worth 2 million when trying to get a loan using it for collateral?

Oops
It doesn't matter what you claim your house is worth when applying for a loan on that property.

The bank will send out its own appraiser to set the value for the bank.

Haven't you people ever bought a house or applied for a mortgage?
 

Lesh

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
A fair point. But if you CLAIM your house is worth 2 million when trying to get a loan using it for collateral?

Oops
It doesn't matter what you claim your house is worth when applying for a loan on that property.

The bank will send out its own appraiser to set the value for the bank.

Haven't you people ever bought a house or applied for a mortgage?
It doesn't matter?

Hmmm

.
 

Blues Man

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
A fair point. But if you CLAIM your house is worth 2 million when trying to get a loan using it for collateral?

Oops
It doesn't matter what you claim your house is worth when applying for a loan on that property.

The bank will send out its own appraiser to set the value for the bank.

Haven't you people ever bought a house or applied for a mortgage?
It doesn't matter?

Hmmm

.
That has nothing to do with the appraisal of the property that the bank has done.

That type pf fraud is usually misrepresenting your income or assets that will be used to determine if the bank will give you a loan.

Have you ever filled out a mortgage app?

There is not one place on that mortgage application where you the owner if you are applying for a loan on a property you own, or you as a buyer of that property that asks you what the value of the property is because the bank will determine that value by sending out an appraiser that the applicant pays for as a part of the loan fees.
 

LAUGHatLEFTISTS

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.

This is the big one! You finally got him! After 4 years of heartbreak after heartbreak you finally have the smoking gun. There's no way the demleftists and their media allies would get your Hope's high again then smash all your dreams to pieces again! Keep hope alive!
 

Crepitus

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
 

Blues Man

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
That's responsibility the assessors office not the owner of the property.

The value of any property assessed by the state for taxes will always be lower than the market value.

That's just how it works and it's always been that way
 

Crepitus

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
That's responsibility the assessors office not the owner of the property.

The value of any property assessed by the state for taxes will always be lower than the market value.

That's just how it works and it's always been that way
Listen to what you're sayin' man. Do you think the county, who is looking at property tax values, is off by 90% or do you think the guy who's trying to get the biggest loan possible is off by 90%?

Think for a minute, stop emoting about tRump and use your brain.
 

Blues Man

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
That's responsibility the assessors office not the owner of the property.

The value of any property assessed by the state for taxes will always be lower than the market value.

That's just how it works and it's always been that way
Listen to what you're sayin' man. Do you think the county, who is looking at property tax values, is off by 90% or do you think the guy who's trying to get the biggest loan possible is off by 90%?

Think for a minute, stop emoting about tRump and use your brain.
This isn't about a loan it's about a tax break given for giving a 150 acre easement to a land trust.

The tax deduction was based on the assessors valuation of the land not on what Trump said it was worth.

And IDGAF about Trump. Personally I think he's a douche bag. I am commenting on the legal aspects of this.

The tax deduction was based on the assessor's valuation of 21 million. A separate appraisal was conducted that listed the market value as 56 million. All that means is that at the time of the appraisal the land could have sold for 56 million.

That has nothing to do with the assessor's valuation

So tell me where is this fraud?
 

Crepitus

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
That's responsibility the assessors office not the owner of the property.

The value of any property assessed by the state for taxes will always be lower than the market value.

That's just how it works and it's always been that way
Listen to what you're sayin' man. Do you think the county, who is looking at property tax values, is off by 90% or do you think the guy who's trying to get the biggest loan possible is off by 90%?

Think for a minute, stop emoting about tRump and use your brain.
This isn't about a loan it's about a tax break given for giving a 150 acre easement to a land trust.

The tax deduction was based on the assessors valuation of the land not on what Trump said it was worth.

And IDGAF about Trump. Personally I think he's a douche bag. I am commenting on the legal aspects of this.

The tax deduction was based on the assessor's valuation of 21 million. A separate appraisal was conducted that listed the market value as 56 million. All that means is that at the time of the appraisal the land could have sold for 56 million.

That has nothing to do with the assessor's valuation

So tell me where is this fraud?
You listed the fraud. Then you said "where is the fraud".

I give up, have a nice day.
 

Blues Man

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Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
That's responsibility the assessors office not the owner of the property.

The value of any property assessed by the state for taxes will always be lower than the market value.

That's just how it works and it's always been that way
Listen to what you're sayin' man. Do you think the county, who is looking at property tax values, is off by 90% or do you think the guy who's trying to get the biggest loan possible is off by 90%?

Think for a minute, stop emoting about tRump and use your brain.
This isn't about a loan it's about a tax break given for giving a 150 acre easement to a land trust.

The tax deduction was based on the assessors valuation of the land not on what Trump said it was worth.

And IDGAF about Trump. Personally I think he's a douche bag. I am commenting on the legal aspects of this.

The tax deduction was based on the assessor's valuation of 21 million. A separate appraisal was conducted that listed the market value as 56 million. All that means is that at the time of the appraisal the land could have sold for 56 million.

That has nothing to do with the assessor's valuation

So tell me where is this fraud?
You listed the fraud. Then you said "where is the fraud".

I give up, have a nice day.
So who committed the fraud?

The tax assessor or the professional appraiser?
 

Blues Man

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More shenanigans...


Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
We're talking about the locals assessing the property at 1/10 the stated value.
That's responsibility the assessors office not the owner of the property.

The value of any property assessed by the state for taxes will always be lower than the market value.

That's just how it works and it's always been that way
Listen to what you're sayin' man. Do you think the county, who is looking at property tax values, is off by 90% or do you think the guy who's trying to get the biggest loan possible is off by 90%?

Think for a minute, stop emoting about tRump and use your brain.
This isn't about a loan it's about a tax break given for giving a 150 acre easement to a land trust.

The tax deduction was based on the assessors valuation of the land not on what Trump said it was worth.

And IDGAF about Trump. Personally I think he's a douche bag. I am commenting on the legal aspects of this.

The tax deduction was based on the assessor's valuation of 21 million. A separate appraisal was conducted that listed the market value as 56 million. All that means is that at the time of the appraisal the land could have sold for 56 million.

That has nothing to do with the assessor's valuation

So tell me where is this fraud?
You listed the fraud. Then you said "where is the fraud".

I give up, have a nice day.
you do realize that the tax deduction Trump got was for the smaller of the two valuations don't you?

So there was no inflated value that the tax deduction was based on.

If the land was actually assessed by the town as being worth more then trump would have gotten a bigger tax deduction.
 

Claudette

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Trump will not go to jail over this.
As usual, he will deny any knowledge, blame others, blame a witch hunt

He will be fined, he will tie it up in appeals and ultimately not pay.

Rinse/Repeat
LOL Blame the appraiser. You really are stupid.
 

Lesh

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More shenanigans...


Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.

This is the big one! You finally got him! After 4 years of heartbreak after heartbreak you finally have the smoking gun. There's no way the demleftists and their media allies would get your Hope's high again then smash all your dreams to pieces again! Keep hope alive!
Oh we "got him". We "got him" out of the damn White House.
 

Nostra

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Trump will not go to jail over this.
As usual, he will deny any knowledge, blame others, blame a witch hunt

He will be fined, he will tie it up in appeals and ultimately not pay.

Rinse/Repeat
Why should he go to jail over this accusation? I mean if this is all the left wing's investigation has turned up.....it's a big zero
It is just the tip of the iceberg

The TRUMP empire is a House of Cards built on the TRUMP name and false valuations of assets

This is just the first card
Trump overestimates or underestimates his assets when it suits him. Not that most people won’t do the same when it suits them also. However, with Trump, given the size of his real estate portfolio and the fact that he has admitted constantly being under “audit”, you would think he would not be so brazen in his tax fraud or manipulation. Some people just think the law does not apply to them.
Is he an appraisal agent?
 

Lesh

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More shenanigans...


Trump opted for a strategy that would allow him to keep the property but reduce his taxes. He granted an easement to a conservation land trust to preserve 158 acres (60 hectares) of meadows and mature forest.
Trump received a $21 million income tax deduction, equal to the value of the conserved land, according to property and court records. The amount was based on a professional appraisal that valued the full Seven Springs property at $56.5 million as of Dec. 1, 2015.
That was a much higher amount that the evaluation by local government assessors, who said the entire estate was worth $20 million.
Michael Colangelo, a lawyer in the New York attorney general's office, outlined the central question involving the Seven Springs easement at a hearing last year regarding a dispute over evidence.
“If the value of the easement was improperly inflated, who obtained the benefit from that improper inflation and in what amounts?” Colangelo said. “It goes without saying that the attorney general needs to see the records that would reflect the value of that deduction, as it flowed up to intermediate entities, and ultimately to Mr. Trump, personally.”
A message seeking comment was left with Trump’s spokesperson. In the past, the Republican ex-president has decried the investigations as part of a “witch hunt.”
Seven Springs caught investigators’ attention after Trump’s longtime personal lawyer and fixer Michael Cohen told a congressional committee in 2019 that Trump had a habit of manipulating property values — inflating them in some cases and minimizing them in others to gain favorable loan terms and tax benefits.
Cohen testified that Trump had financial statements saying Seven Springs was worth $291 million as of 2012. He gave copies of three of Trump's financial statements to the House Committee on Oversight and Reform during his testimony.
Cohen said the statements, from 2011, 2012 and 2013, were ones Trump gave to his main lender, Deutsche Bank, to inquire about a loan to buy the NFL's Buffalo Bills and to Forbes magazine to substantiate his claim to a place on its list of the world's wealthiest people.

Trump, on his annual financial disclosure forms while president, said the property was worth between $25 million and $50 million.
Property is always assessed by local government as less than what the sale price would be.

An appraiser will state the worth of a property as what it would potentially bring when sold.

Just look at your own property taxes to see proof of this.

My house is assessed for taxes as being worth 280K but I could sell it tomorrow for 425K
A fair point. But if you CLAIM your house is worth 2 million when trying to get a loan using it for collateral?

Oops
It doesn't matter what you claim your house is worth when applying for a loan on that property.

The bank will send out its own appraiser to set the value for the bank.

Haven't you people ever bought a house or applied for a mortgage?
It doesn't matter?

Hmmm

.
Read the damn law
 

Nostra

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The tax man has never asked me what I think my home is worth for tax purposes.

They do stuff weird in NY.
 

rightwinger

Award Winning USMB Paid Messageboard Poster
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Trump will not go to jail over this.
As usual, he will deny any knowledge, blame others, blame a witch hunt

He will be fined, he will tie it up in appeals and ultimately not pay.

Rinse/Repeat
LOL Blame the appraiser. You really are stupid.
Oh yes
Doesnt take much to get a fake appraisal for the good or bad.
Trump did it his whole life
 

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