Rep. Jared Moskowitz calls for Palm Beach County to tax Mar-a-Lago at the rate Trump claims it's worth

[Dragonlady]

Wouldn’t it be a hoot if ignorant Dems / Marxists understood property assessment for tax purposes?

Wouldn't it be a hoot if conservatives understood banking, collateral, and "fair market values" instead of listening to the lies of the Trump Family.

Just the fact that you equate "Dems/Marxists" as equivalents show the depths of your ignorance and stupidity.

Keep telling us who you are Hollie. Best comedy posts this month!!!

 

[surada]

Wouldn’t it be a hoot if ignorant Dems / Marxists understood property assessment for tax purposes?

Trump claims Mara Lago is worth a billion dollars.

 

[SweetTea]

The tax appraisal for Mar-a-lago is $17 million, which is lower than the $27 million that the Trump Corporation said the property was worth in 2020. But both figures are substantially lower than the $1+ billion that Eric Trump claimed, based on recent sales of unrestricted acreages in the area.

The values of Florida real estate have increased substantially in recent years but the building restrictions on this property will always keep the value low. Trump has a history of trading away future value for short term gain today. But at the time he signed off on the restrictions on Mar-a-lago in the early 90's, he was in deep financial trouble in Atlantic City and he was unsuccessful in selling the renovated beach property to raise cash.

If the club was operating at a profit, it would be worth more as well, but the only time the club was profitable was when Trump was in the White House. That's not to say that under better management it couldn't be turned around, but money losing businesses are worth a lot less than those which are profitable when you go in the door.

Property evaluations are all over the map, particularly properties with historical significance. All of Trump’s properties have historical significance because he is a former President.As for Mar-a-Largo, Trump estimated it to be worth $739 million. In 2022, Forbes estimated it to be $325 million. Real estate agents on West Palm thought it would sell for much more, with one saying it was worth $725 million. Trump essentially chose the highest value he could get, which is what everybody does in these cases.

Regardless, he could have told the bank that he “thought” it was worth 2 billion. That could have been his opinion. It was up to the bank to figure out which estimate they wanted to use and to do their own if they felt it was necessary.

 

[SweetTea]

Wouldn't it be a hoot if conservatives understood banking, collateral, and "fair market values" instead of listening to the lies of the Trump Family.

Just the fact that you equate "Dems/Marxists" as equivalents show the depths of your ignorance and stupidity.

Keep telling us who you are Hollie. Best comedy posts this month!!!

I own many pieces of real estate. I fully understand how it works. Apartment renting Democrats or those still living in their parent’s basement are the problem.

 

[Aldo Raine]

In my state, tax appraisals are almost always considerably lower than market value. Large increases in assessments are very rare with the exception of when a property is sold and the assessment is squared up with the sales price.

I wasn't arguing that and I agree that the auditors for the county usually are low. I am saying the judge did NOT set the price. If you and tRump believe it is worth a billion or more praise the lord. Now have tRump pay taxes on the property at that appraisal!
MAGA

 

[Dragonlady]

I suppose Trump could have gone to his county auditor’s office and filed a dispute that his property was actually worth a lot more than their assessment. The auditor would have looked at him like he was crazy because NOBODY EVER DOES THAT.

I don’t think you people have ever owned real estate in your lives. Apartment renting urbanites in NY don’t have a clue about any of this.

You're the one who is coming off as an economic imbecile in all of this. Not one poster here has suggested that the values of Trump's properties should be based on the assessement value of the properties. No one. YOU are the one who claims that we are.

Commercial property valuations are based on the following criteria:

1. Purchase price - in this case it was $7 million. Plus improvements.

2. Replacement cost - what would it cost to rebuild the structures on the property at today's prices, less depreciation.

3. Income. Valuation is 6 - 10 times income, for rental properties - depending on age and condition.

5. Potential: If I buy this property, how can I maximize my ROI? In the case of Mar-a-lago, your only option is to turn the club around and get it running at a profit, since you can't sever lots and sell them, or build on any of the lands, or change the use. You can't tear down or make substantial changes to the main house. Can you return it to a private residence? I'm not sure.

6. Other: Things like the zoning and use restrictions Trump negotiated, and the "Historical" designation. In legal terms, the Purchaser agrees to accept title to the property subject to the "qualifications, restrictions and limitations which run with the lands".

The mere fact that Donald Trump has negotiated away literally hundreds of millions of dollars of potential value on two large properties, the other being Seven Springs in New York, shows what a piss poor businessman he truly is.

 

[Dragonlady]

I own many pieces of real estate. I fully understand how it works. Apartment renting Democrats or those still living in their parent’s basement are the problem.

Then you're really piss poor at explaining your "knowledge" to the rest of us because you come across as just another keyboard commando here.

 

[the watcher]

Rep. Jared Moskowitz calls for Palm Beach County to tax Mar-a-Lago at the rate Trump claims it's worth​

• Yeah, that would be useful. Set property tax according to your voting record, donations to the Party, current state of wokefullness, social credit score, and skin shade. That is something Congress would be good at. I like it.

 

[Crepitus]

Why don't they tax it at the valuation that Letitia James' pet judge put on it? Fair is fair...right, Crepitus?

No judges put values on anything.

YOu know this.

Or maybe you don't, facts don't really seem to be your thing.

 

[Crepitus]

Wouldn’t it be a hoot if ignorant Dems / Marxists understood property assessment for tax purposes?

$18 million vs $500 million (or even a billion according to tRump) is not a tax assessment error/difference.

My house is taxed at @ $250K and if I sold it today I could probably get $275-$300.

That's a typical spread of 20% ish.

 

[Care4all]

A bank ask you what you THINK your property is worth. You can think whatever you like. You can list your property for whatever you what to list it for

Nope. The form required is a form banks require for multi million dollar loans, done by a Certified Accounting firm, and sworn to be factual and truthful.

It isn't what a property owner makes up in their head.

And it wasn't just a thought of what he believed he could get for his infamous properties, trump org, out right committed fraud....they exaggerated property assets by as much as 400% to 2000% on this Legal Property Asset Form.

This was not "thinking" ones property value's worth 10% or even 30% MORE than the market value.

They lied on the form with things like claiming his Trump Tower Penthouse was 30,000 square feet to come to his higher over valued estimate instead of the 10,000 square feet that it actually was....

Claiming he can get near 3/4s of a billion for Mara Lago by selling it as a private mansion, when Mara Lago is DEED RESTRICTED to only be a Historical Resort, and NEVER be able to sell as a private mansion, where it would be valued at much much more.

They were PURPOSEFUL LIES, FRAUD.

 

[Hollie]

$18 million vs $500 million (or even a billion according to tRump) is not a tax assessment error/difference.

My house is taxed at @ $250K and if I sold it today I could probably get $275-$300.

That's a typical spread of 20% ish.

So it seems (DeCrepid) now understands the difference between assessed and market value of real estate.

 

[80zephyr]

Wouldn't that be a hoot?

Could tRump even pay it at this point?

Rep. Jared Moskowitz calls for Palm Beach County to tax Mar-a-Lago at the rate Trump claims it's worth

Trump has claimed his Florida resort is worth as much as $1.5 billion, but the Palm Beach County property appraiser valued it far lower.

www.nbcnews.com

First of all, an appraisal is not an assessment. Learn the difference.

 

[80zephyr]

Gawd almighty! The JUDGE did NOT say Mara Lago was worth $18 -$27 million....the appraiser and Trump did.

Not an appraiser. An assessor.

 

[80zephyr]

Not me. I'm waiting to see what happens on appeal.... Which is part of the legal process....

Trump will get his chance once again, in the appeals court.

This case is not about taxes or insurance fraud or bank fraud.....

It is about following the laws in place for good business practice and environment for all businesses....A market place of fairness and truth for all businesses.

Since what Trump did is almost a universal practice in real estate, maybe you can point us to a list of others that New York is going after? I'll wait.

 

[Crepitus]

So it seems (DeCrepid) now understands the difference between assessed and market value of real estate.

You idiot, I always have. YOu and your fellow tRumplings are the ones who don't, as evidenced by the current exchange.

 

[Crepitus]

First of all, an appraisal is not an assessment. Learn the difference.

OMG another one of these morons?

Does it ever end?

Read the rest of the thread Son.

 

[Hollie]

You idiot, I always have. YOu and your fellow tRumplings are the ones who don't, as evidenced by the current exchange.

View attachment 921273

You poor, dear. DeCrepid never understood that assessed value and market value can be widely different figures.

 

[Crepitus]

You poor, dear. DeCrepid never understood that assessed value and market value can be widely different figures.

Why do you kids always double down on the stupid?

 

[Care4all]

Since what Trump did is almost a universal practice in real estate, maybe you can point us to a list of others that New York is going after? I'll wait.

Nope. The form required is a form banks require for multi million dollar loans, done by a Certified Accounting firm, and sworn to be factual and truthful.

It isn't what a property owner makes up in their head.

And it wasn't just a thought of what he believed he could get for his infamous properties, trump org, out right committed fraud....they exaggerated property assets by as much as 400% to 2000% on this Legal Property Asset Form.

This was not "thinking" ones property value's worth 10% or even 30% MORE than the market value.

They lied on the form with things like claiming his Trump Tower Penthouse was 30,000 square feet to come to his higher over valued estimate instead of the 10,000 square feet that it actually was....

Claiming he can get near 3/4s of a billion for Mara Lago by selling it as a private mansion, when Mara Lago is DEED RESTRICTED to only be a Historical Resort, and NEVER be able to sell as a private mansion, where it would be valued at much much more.

They were PURPOSEFUL LIES, FRAUD