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Trump's latest property tax bill, out June 3, shows he once again received a middle-class tax break
Source: Crain's New York Business
Donald Trump's New York City property tax bill, published June 3, shows he once again received a tax break aimed at middle-class New Yorkers.
The presumptive GOP presidential nominees latest property tax bill shows he was awarded a credit under the STAR program, or the New York State School Tax Relief Program. To be eligible for STAR, a married couple must have annual income of $500,000 or less. You wouldnt think a guy as rich as Trump claims to be would qualify, but he has received the credit for several years and records filed over the weekend with the citys Department of Finance show he received a $304 STAR tax break for his Trump Tower penthouse.
While the amount of the credit is trivial for a high-roller, the fact that Trump gets it calls into question his claims that he's "really rich" with a fortune worth in excess of $10 billion. Trump's tax bill comes to around $96,611 after receiving a condo abatement worth $20,493.
Trump spokeswoman Hope Hicks said the city made an error in providing the tax credit and a correction "is in process." When Crains first reported on the STAR credit in March, a spokeswoman for the mayors office agreed an error had been made, though she wouldnt explain how it happened. The city had no immediate comment on the latest STAR credit.
The presumptive GOP presidential nominees latest property tax bill shows he was awarded a credit under the STAR program, or the New York State School Tax Relief Program. To be eligible for STAR, a married couple must have annual income of $500,000 or less. You wouldnt think a guy as rich as Trump claims to be would qualify, but he has received the credit for several years and records filed over the weekend with the citys Department of Finance show he received a $304 STAR tax break for his Trump Tower penthouse.
While the amount of the credit is trivial for a high-roller, the fact that Trump gets it calls into question his claims that he's "really rich" with a fortune worth in excess of $10 billion. Trump's tax bill comes to around $96,611 after receiving a condo abatement worth $20,493.
Trump spokeswoman Hope Hicks said the city made an error in providing the tax credit and a correction "is in process." When Crains first reported on the STAR credit in March, a spokeswoman for the mayors office agreed an error had been made, though she wouldnt explain how it happened. The city had no immediate comment on the latest STAR credit.
Read more: http://www.crainsnewyork.com/article/20160606/BLOGS02/160609931/trumps-latest-property-tax-bill-out-june-3-shows-he-once-again#utm_medium=email&utm_source=cnyb-dailyalert&utm_campaign=cnyb-dailyalert-20160606
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Trump's latest property tax bill, out June 3, shows he once again received a middle-class tax break (Original Post)
brooklynite
Jun 2016
OP
Fresh_Start
(11,330 posts)1. does a person have to apply for the tax credit?
or is it automatic based on address or some other crieria?
brooklynite
(94,520 posts)2. You definitely have to apply for the STAR credit...
I've never been eligible, but maybe he has a creative accountant...
Fresh_Start
(11,330 posts)5. so its not an accident...
an account that creative would know the criteria for eligibility
Gothmog
(145,168 posts)3. Trump is lying about his net worth
Bluenorthwest
(45,319 posts)4. Trump's 'wealth' is mostly theatrics
Not that he's broke, but he's not the King Pin Money Bags he plays in the media.
tikka
(762 posts)6. Maybe he's using the same depreciation loophole like he does with his income tax n/t
trudyco
(1,258 posts)7. So who has been payng for his caompaign?