Trump’s Mar-a-Lago, Valued at $18m by NY Judge, Sold for $20m in 1981.

originally posted by: Threadbarer
a reply to: Xtrozero

Look at the article I posted above. Trump tried to argue that $26 million was too high a valuation.

And this is what it's all about, that being, fraud - even without a victim - fraud. Well the bank wasn't a victim - are the people the victims because with others' tax fraud and less tax collected, what programs/services are then never able to get off the ground?

Property Tax Assessment is not the same as open market fair value.


(Nov 2023 article) Upped value of Mar-a-Lago, other Palm Beach County property boosts Trump's tax bills
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Former President Donald Trump’s famous Mar-a-Lago Club has been valued at $37 million in the just-finalized Palm Beach County property-tax rolls for 2023. That’s 19% more than the value assigned to it a year ago.

But the figure is far less than what many real estate observers say the 17.5-acre ocean-to-lake property would actually be worth if it were ever sold without its existing legal encumbrances.

originally posted by: strongfp

By all means throw out the old appraisal. Price it at 3 billion. And then let Trump pay the taxes accordingly.

Let's just say I bought a house for 500k 20 years ago and I go to a bank and say I think my house is worth 10 million and I want an 8 million dollar loan. The bank says OK and give me 8 million. Then NYC comes along and says wait we think your house is worth 200k now and the bank says that they do not care and do nothing. NYC says wait a minute we see that as fraud and so sues me in civil court for 20 million. Does this look like the justice system or some criminal mob fleecing me?

originally posted by: quintessentone

And this is what it's all about, that being, fraud - even without a victim - fraud.

I think the point here is if you sell your house or pay taxes you have nothing to do with the value no matter what you say. To test this, go to the tax assessor and tell them that your house is only worth a buck, see how that goes...lol

As to value... it is whatever someone is willing to pay for it, or willing to give you a loan against, and once again it doesn't matter what I say one way or another. There is no fraud if I try to get as much as I can for my property.

a reply to: RazorV66

Majority of this thread is people, in favor of Trump, arguing over the value of the property as if it was going to market. Even at that a lot of rich people wouldn't touch it because of the baggage attached to its historical value and upkeep. Which might devalue the property, but Trump it correct in saying it's like a painting the only reason to have it is to pretty much have bragging rights.

The title of this thread and the majority of the thread seemed to suggest that the above was the final actual evaluation of the real estate price, when it's not, it's the taxable evaluation. Which is GOOD for Trump, so what's the big issue?

Mar-a-largo sits on about 20 acres.

1 acre of vacant land in Palm Beach sells for about $50 million. Here are two listings not far from Mar-a-largo.

$200 million for a 2 acre empty beach front lot. Another for $150 million.

www.realtor.com...

www.realtor.com...

Hedge Fund Billionaire, Ken Griffin is building a $1 billion compound just a 1/4 mile or so from Mar-a-largo.

nypost.com...

Just the land value alone of Mar-a-largo is probably $1 billion given the size of the estate.

Anyone arguing the Mar-a-largo is worth $18-$30 million is a complete idiot. This is the tax valuation based on the current zoning as a club, nothing more.

The real market value is substantially more because any purchaser is likely to use a residence.

Put it this way, let's say you owned a house. The house and land is worth maybe $500k. However, you discover that there is oil on the property. The oil deposits are worth $50 million dollars. However, the property is still zoned as a residence.

For property tax purposes, you will say your home is worth $500k because property taxes are based on it being a residence, not an oil deposit. However, you know the market for the home is oil drillers and thus the real value of the home is the $50 million.

If you go to a bank and they ask you the value of the property, you will say it is worth $50 million because of the oil deposits as that is what you could reasonably sell it for to an oil driller. However, the purchaser would need to change zoning but that is not your problem.

a reply to: Xtrozero

Could be. I don't know much about the actual case in question. I'm just here discussing the actual properties value. Which means very little apparently.

Although, Trumps empire was built off playing the tax game, and he's known in NY to play them hard, new jersey especially. It's no surprise they'd go after him.

originally posted by: Threadbarer
a reply to: CarlLaFong

Once again, the judge didn't value the house. He was using the valuation done by the Palm Beach assessor.

Furthermore, when Trump bought the property it was zoned as a private residence. It is now zoned as a beach club that is also on the historic places registry. That severely limits what any future owner can do with it.

so it's your belief that the property is only worth 18 million?

originally posted by: quintessentone

Yes, it's a mud pit for sure, but hey as Trump says he won't pay tax like all the other suckers.

When did he say that..can you quote it? The one tax return stolen had him paying 37 million...lol

Dave Chappelle explained it well.

originally posted by: strongfp
a reply to: Xtrozero

Could be. I don't know much about the actual case in question. I'm just here discussing the actual properties value. Which means very little apparently.

Although, Trumps empire was built off playing the tax game, and he's known in NY to play them hard, new jersey especially. It's no surprise they'd go after him.

And yet, he's the only person this law has ever been used on. Do you think Trump is the only person who uses the system as it exists to make a living? And for the bonus question, who has been harmed by this? Thanks in advance.

originally posted by: strongfp

Although, Trumps empire was built off playing the tax game, and he's known in NY to play them hard, new jersey especially. It's no surprise they'd go after him.

So who doesn't play a tax game? None of this has anything to do with breaking tax laws... NY pushing a civil fraud case based on head-scratching points. There are assessors in all this, and if the bank gave him a loan then it was based on agreeing with the assessor they used. There is no fraud no matter what value we agree on.

a reply to: Xtrozero

That's not the point but Ok...

If someone is habitually known for something and has people combing their everyday lives to find a slip up this will happen. Are you surprised Donald Trump has enemies that'll drag him to court?

Should everyone bow down and just let him do whatever he wants?

He plays high risk games, expect the risks to actually have baggage to them.

originally posted by: Edumakated

If you go to a bank and they ask you the value of the property, you will say it is worth $50 million because of the oil deposits as that is what you could reasonably sell it for to an oil driller. However, the purchaser would need to change zoning but that is not your problem.

Now let's change the word "oil" for "Prime Palm Beach" location. 17 acres split up into 1/2 acres lots is a billion dollars right there.

a reply to: network dude

Gotta start with someone. Too bad its Donald Trump for some reason.

originally posted by: strongfp

That's not the point but Ok...

If someone is habitually known for something and has people combing their everyday lives to find a slip up this will happen. Are you surprised Donald Trump has enemies that'll drag him to court?

Should everyone bow down and just let him do whatever he wants?

He plays high risk games, expect the risks to actually have baggage to them.

It is the point...Trump cannot fraud no matter what he says...

Do what? I work hard to play as little taxes as I can? Don't you?

Why is all this even a point... What is it everyone is bowing down to? Trump had zero enemies before he ran for President, and the left loved him... even Jean Carroll said she loved his show for years, and wouldn't miss one.

So what changed... easy to see, AND since all this stuff being pushed on him as crime etc has been made up or just stupid.

You know we get to a point where we just do not give a crap anymore as the left screams we got him this time after 50 other chicken little events. That is why is it called TDS...

a reply to: Xtrozero

He had lots of enemies before he was president... look what he did to New Jersey.

Anyway, I'm tired of hearing about Trump non stop. Trump, good, Trump bad. Blah blah blah.
He's a high profile person, and he as accumulated lots of enemies. Its not a mystery why he was dragged into this case.

a reply to: BedevereTheWise

Inflation isn't the only driver for the price increase.
#1 location location location

originally posted by: strongfp
a reply to: theatreboy

A judge telling Tesla, a corporation, that Elon can't give hunself a salary of a gazillion dollars is acting in good faith for the public. Its a publicly traded company, the judge makes the final call for the shareholders.

In this case the Mar a Lago property is a National Historic Landmark, a public entity pretty much, its the same principle, otherwise it would be worth a lot more.

What you are talking, is straight up Fascism.

The government (a judge) telling a corporation what they can do, no!

Remember, the Constitution tells the government what they can't do. Which is take away our freedom. The public has given it away.

And 55 million for Musk is not a gazillion.

And the judge does not speak for the shareholders, the board of directors lets the share holders vote, and they agreed to the 55 million.

So all the judge is doing is eroding libertty.

originally posted by: strongfp
He's a high profile person, and he as accumulated lots of enemies. Its not a mystery why he was dragged into this case.

Interestingly, it is only the left after him. The fake dossier is the perfect example of totally made-up and years of investigation based on nothing. The problem I see is people like you cannot see it...

a reply to: theatreboy

If Elon tells the shareholders I'm giving myself a raise. And they vote agaisnt it.

Who do you go to in order to tell Elon to take a hint?

A corporation is technically a person, you can take it to court.