Help Me Understand This: Tr**p For Property Tax Purposes Values His Properties Low And...

[global1]

to borrow money - he values his properties high. Is that right?

I live in a state where we have property tax assessors that value one's property. They base the property taxes I have to pay to the State based on that assessment.

How does Tr**p get away with valuing his own properties which he has to pay property taxes on.

Do some states allow the owner of the property to value their property? Is that how and why Tr**p does it?

[speak easy]

1. NDA

His applications for loans were covered by NDAs.

[Gaugamela]

2. Interesting. In other words, the Russian oligarchs underwriting his

loans told Deutsche Bank what the terms of the loans would be, and Trump Org provided the phony paperwork to make it look kosher.

[former9thward]

3. That has nothing to do with property taxes.

Governments assess the value of the property they are assessing -- including New York. You don't tell the tax assessor how much your property is worth.

[wishstar]

5. He has had a long term strategy of appealing property taxes using various allegations

https://money.cnn.com/2016/10/25/news/companies/donald-trump-property-tax-fights/index.html


"Donald Trump has repeatedly said he pays "tremendous" amounts in taxes, but when it comes to his properties, he fights to pay as little tax as possible. And that often comes with a cost to the towns or cities where Trump owns property.
A CNN review of more than two-dozen U.S. properties owned or partially owned by Donald Trump, in which tax records could be obtained, has found Trump has filed appeals, petitions or challenges to lower the taxable value in all but one.
In 25 of 26 buildings, golf courses and homes, tax assessors and officials say attorneys for Trump and his companies have fought assessed values in an attempt to lower his taxes."

His latest battle involves the newly opened Trump International Hotel in Washington D.C., where the district's assessor originally valued Trump's interest in the property for tax purposes at $98 million. Trump wants it assessed at $28 million, according to court documents."


NY Atty General talked about how he sold the hotel in DC making over $131 million in profit (many times over what he alleged for tax valuation purposes in his appeals to lower his property taxes for that hotel.)

[former9thward]

6. It doesn't work that way.

In NY or DC or anywhere else. You can appeal your assessment all day long but someone in government authority has to agree to lower the assessment. You don't do that yourself and your appeal is meaningless unless the government agrees. Doesn't anyone own a house or property and know how property taxes work?

[mercuryblues]

4. A pretty easy scam

When he needed loans, he would increase the value of his properties on the paperwork. When it came time to pay taxes on them, he would fight the assessment and have the property de-valued. I don't know how often the assessors, assess the properties in NY.

Where I live, they come around every 5 years.

[maxrandb]

7. Creedence Clearwater Revival explained it well

"Some folks are born silver spoon in hand
Lord, don't they help themselves, Lord?
But when the taxman come to the door
Lord, the house lookin' like a rummage sale, yeah

It ain't me, it ain't me
I ain't no millionaire's son, no, no
It ain't me, it ain't me
I ain't no fortunate one, no"

[link:https://m.

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