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

[Rambunctious]

I'm talking about Trump Tower.

Trump's fraudulent claims for his apartment are a good indicator of how fraudulent the rest of his claims are.

The leopard does not change his spots just because he moved to a different hunting ground.

Oh give us a break fool... so fucking what... so Trump or whoever filled out the form made a mistake... do you know how many NYC buildings Trump owns?... you don't prosecute a former president and current GOP leading candidate for this... snap out of it TDS boi....

 

[evenflow1969]

Have you never bought a house? Did the bank just take your word on it regarding what it was worth? Or did You have to get it appraised?

Lol, what do you know about portfolio lenders or stated loans? Evidently not much.

 

[toobfreak]

Very true.
Question is: Why did the assessor GREATLY undervalue the property?

Guess I'll have to post this AGAIN. Try READING this, it explains it all, and why this fraud charge will never stick:

MSN

 

[bripat9643]

Guess I'll have to post this AGAIN. Try READING this, it explains it all, and why this fraud charge will never stick:

MSN

The judge and the DA should both be disbarred after this is over.

 

[Harpy Eagle]

Says the number one gullible fool of USMB....

Then provide the words of the judge doing what you claim

 

[Couchpotato]

Lol, what do you know about portfolio lenders or stated loans? Evidently not much.

I know how loans work. I know banks dont just take the person who's seeking a loan word for it on the value of the asset they are using for collateral.

 

[Missouri_Mike]

You can multiply the judge’s valuation by ten and it still doesn’t approach Trump’s. He’s kept quiet over the years regarding the sweetheart deal he’s received on property taxes, but his greed has caused him to over value the property for additional gain. That’s fraud.

No it’s not.

 

[Missouri_Mike]

Oh look a call for violence from the right.

What a surprise.

You- I sure hope the government bankrupts that guy with over charging taxes! Lolz!

Also you- OMG! You can’t say that about a guys house it’s violence!

Your fucking retarded all the way to the bone.

 

[Winco]

Guess I'll have to post this AGAIN. Try READING this, it explains it all, and why this fraud charge will never stick:

MSN

This link has a paywall.

The link is part of the entire text you posted.
I can't access it, so a summary from you would be helpful.

 

[Winco]

 

[Fort Fun Indiana]

I know how loans work. I know banks dont just take the person who's seeking a loan word for it on the value of the asset they are using for collateral.

You definitely do not understand how this commercial lending works.

 

[Fort Fun Indiana]

You- I sure hope the government bankrupts that guy with over charging taxes! Lolz!

You mean, multiple instances of felony fraud spanning decades, resulting in hundreds of millions in ill-gotten gains. Say it like a big boy.

 

[toobfreak]

The judge and the DA should both be disbarred after this is over.

I'm no expert in real estate, but basically, I understand that a given community has a certain operating cost which they must finance through taxation of the private properties within. So, your tax assessment is partly based on the area of the land you own (percentage of the community) + what you have developed on it, that way, you pay your fair share of the cost of community development from roads and infrastructure, to the cost of police, borough staff, road crews, materials, parks, etc.

But the private valuation of the fair market value that another might pay is SPECULATIVE. By definition, it is upwardly mobile. It is totally separate from its mere tax assessment value. The fair market value is based on supply, demand, and whatever it is worth or you can get another to pay for it. These are two totally separate figures, yet this idiot judge is trying to say that Trump committed fraud by assessing its potential market value in the hundreds of millions when even I can produce endless examples of comparable and smaller properties that have actually SOLD for that amount!

And it isn't like Trump pulled the figures out of his ass; his estimates are based on the opinions of experts in the community used to buying and selling such properties, yet the judge is ignoring all of that and claiming Trump cheated by not claiming its marketable value was no greater than its static tax assessment, which is clearly absurd.

Somewhat similar to having a piece of jewelry once owned by Elvis. The judge is saying that Trump committed fraud by not declaring the value of the bracelet based on the raw value of the melted gold and jewels, maybe $1000, while there are collectors of Elvis memorabilia out there who at auction, might pay up to $1,000,000 to own so rare and personal a thing Elvis once wore!

Apples and oranges. No one in the real estate community agrees that Trump committed fraud by his assessor estimating the fair market value of the property as a special and rare, vast estate based upon what the property might bring in a private sale to a desirous, wealthy buyer, yet the judge is claiming fraud because Trump didn't short-change himself claiming only the taxation value of the property. Exotic properties have an ever-increasingly wide disparity between assessed and fair market value. Clearly, if sold, the property would bring at least 300-500 million dollars upwards of maybe 800 million IMO, further, the BANKS do their own checking so there is no possibility Trump "cheated" them.

Then there is the complexity in whether the property is used as a social club or a private residence and the income it could bring. Trump would be insane to declare the value of this property at only 18 million in applying for loans, etc., when clearly, he can sell it and easily get at least 200-300 million for it up to possibly 3X that figure.

The judge is a flaming asshole.

I mean, just the cost of BUILDING the place, projected from inflation from the time of building alone projects the cost of just building the place today at around 90 million dollars.

 

[Faun]

Guess I'll have to post this AGAIN. Try READING this, it explains it all, and why this fraud charge will never stick:

MSN

What that article doesn't point out is that the county appraised Cantanucci's property at $112m while it sold for $170m a 52% difference. And there's nothing in the article stating the previous owner made any fraudulent claims to any banks or businesses in regard to that sale.

Likewise with the Hilfiger property which was appraised at $27m but sold for $41m, also a difference of 52%. And again, no evidence of any fraudulent claims to any banks or businesses in regard to that sale either.

County appraisals are for tax purposes and often don't match sale prices. My own property's county appraisal is about 50% below sales prices of comparable properties in my area.

Whereas Trump claimed his property is valued at 4000% higher than the county's appraisal.

 

[Clipper]

That's exactly what's going to happen.

Why couldn't General Bonespurs get it tossed before trial, mouth breather?

 

[Missouri_Mike]

You mean, multiple instances of felony fraud spanning decades, resulting in hundreds of millions in ill-gotten gains. Say it like a big boy.

You can’t even tell me who was defrauded so STFU.

 

[Fort Fun Indiana]

You can’t even tell me who was defrauded

Yes I can. Anyone who reads up on the case can do that.

You apparently know less than nothing about any of this and should not be commenting.

 

[toobfreak]

This link has a paywall.

There is no paywall. Try winding the rubber band in your computer. I explain it all in post $153.

 

[Couchpotato]

You definitely do not understand how this commercial lending works.

So you think the bank just says hey what's the collateral you're offering worth and you can say whatever the fuck you want and they just say, ok here's a check? LMAO...

 

[Missouri_Mike]

Yes I can. Anyone who reads up on the case can do that.

You apparently know less than nothing about any of this and should not be commenting.

Still can’t do it. Don’t feel bad though affirmative action Laticia can’t do it either.