Likewise....certainly not a high finance expert. I did spend about two years reading everting I could get my hands on about the 2008 money correction. It was triggered by a cascading accrual of worthless assets that were continuously upsold to mask their worthless ess. This was all based on false value. They're still doing itvtoday. Not hard to understand once it is pointed out.
Yes.....thanks though.....
Which I would guess will get overturn on appeal. The judges valuation of his property was ludicrous.
Well the appeals court will make that determination if they choose to hear the case.
www.cnbc.com
That's fucking stupid. It's 17 acres of prime waterfront property. Do you really think Florida would allow development of it? Of course they would the revenue from the permitting, and taxes would be crazy. Trump just got a tax break from Florida years ago so long as he didnt develop it.
"I've been committing crimes this entire time and no one has cared until now" isn't much of a legal defense.
He's saying if sold it couldnt be broken up and made into multiple estates or converted to just a residence. Which is just patently untrue.
LOL? Why? That shit happens all the time. It's some paperwork their lawyers draw up and send to the state/municipality. Do you know how much land in SW Florida was "protected wetlands" right up until it wasnt and then they let them develop it? Thousands of acres. Getting that property rezoned wouldnt take 15 mins of work. There's money to be made by everyone on that deal and they arent going to pass up the opportunity to make it. The State would probably make the most money over the long run which is why they would jump at the chance to do it. At the current state valuation (due to the zoning) the state gets about 180k in property taxes. If its rezoned and developed, and the combined value of the estates built there is say 750 million, which wouldn't be a stretch they get 7.5 million a year. Why wouldnt they do that?
That doesn't mean it's actual value on the open market is that low you fuck tard. Did Trump overvalue it some? Sure, but he didn't value an 18 million dollar property at 1 billion, its closer to a 750million-800million dollar property. That's a huge difference and one that happens routinely in that business. If this were anyone other than Trump there wouldn't be a court case. And everyone knows it. Even you.Except because he got that tax break, it can't be developed. He got it zones as "Large residential". This is why the tax appraiser valued it at between 18 and 27 million.
Is Mar-a-Lago really worth $1B? Trump’s claim at core of fraud trial
It’s a unique property that experts say would fetch hundreds of millions of dollars. But a billion? Here’s why it matters.www.tampabay.com
Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron found that Trump consistently exaggerated Mar-a-Lago’s worth. He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.
It also has significance as a historical site, which also limits what can be done with it. (Not that hasn't stopped Trump from making it into a gaudy Persian Palace). Trump has also pulled cute stunts like burying his dead ex-wife there to give it a tax break for being a cemetery. This would further limit what a future buyer can do with the property. We've all seen Poltergeist!
Again, everyone does it is not a legal defense. That Trump got away with something for a long time, doesn't mean he wasn't breaking the law.
Minutes of works, years of litigation.
Who's going to sue? Seriously. The people in West Palm? Why? That doesnt change the valuation of the property.
