Tax officials reduce Trump's tax bill on D.C. hotel by nearly $1 million

[mahatmakanejeeves]

Source: Washington Post

Tax officials reduce Trump’s tax bill on D.C. hotel by nearly $1 million

By Jonathan O'Connell January 12 at 4:26 PM

President Trump’s D.C. hotel received a $53.6 million reduction in its 2018 assessment from the District of Columbia tax office, saving his company nearly $1 million. ... The District tax office initially valued the Trump International Hotel, in the federally owned Old Post Office building, at $163,587,412, according to a Jan. 12 written agreement.

D.C. assesses property two years ahead of when it is taxed, meaning the 2018 bill is based on an assessment of the building from 2016, the year it opened.

Apparently the hotel did not debut as strongly as tax officials initially expected however, because after receiving additional information from the Trump Organization, the office agreed to reduce the assessment to $110 million, 32.7 percent less. ... The change will reduce the property’s 2018 tax bill from $3,020,367 to $2,029,000, for a savings of $991,367.

Because the Trump Organization does not own the building — it leases the property from the General Services Administration — the company is responsible for paying possessory interest taxes, a stand-in for property taxes applied to businesses on public land.

Read more: https://www.washingtonpost.com/news/business/wp/2018/01/12/tax-officials-reduce-trumps-tax-bill-on-d-c-hotel-by-nearly-1-million/

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Retweeted by David Fahrenthold: https://twitter.com/Fahrenthold

Just posted Wapo exclusive: D.C. tax office reduced Trump's hotel assessment by $53.6 million.

Link to tweet

[BigmanPigman]

1. FUCK THIS!

What country am I living in??????????? How is this allowed to happen????
WAKE UP AMERICA!!! RESIST every day and in every way! ASAP!

Easy...doable...just do IT!
https://www.huffingtonpost.com/entry/do-these-10-things-and-trump-will-be-toast_us_58ac605ae4b07028b704264a

[Angry Dragon]

2. +10,000

[Demtexan]

3. Who got paid off.

Follow the money.

[EarthFirst]

4. I give up!

I simply just don’t know what to say any more...

[turbinetree]

5. So.........................

"Apparently the hotel did not debut as strongly as tax officials initially expected however, because after receiving additional information from the Trump Organization, the office agreed to reduce the assessment to $110 million, 32.7 percent less. ... The change will reduce the property’s 2018 tax bill from $3,020,367 to $2,029,000, for a savings of $991,367. "


So which books did they submit..........................


I don't get to write off my loss of an assessment, what are the taxes on the building around this place-------------that is some valuable land, I have been down there.....................

[DoctorJoJo]

6. No One Bribes Like Trump Bribes, He ...

... has the bigliest bribes.

[pangaia]

7. That's ok. He earned the money and those are the new rules.

Jeeze, anybody would be glad to see their taxes reduced by $1 million.



PS: For those of you who may have lost track of sarcasm, and I know you are OUT there... hee hee....

[politicaljunkie41910]

8. Why am I not surprised? The place is making lots of money after getting off to a slow start but

that's because it wasn't finished. But since the inauguration, the place has been full because people people wanting to curry favor with the president know that the way to the president is through the Trump Hotel. The guy who is in charge of the Property Lease is a government employee and he knows he serves at the pleasure of the president, so if the president says that the property tax is too high well then the guy who's in charge of the lease knows what he needs to do.

That one guy who was in charge of the Ethics Dept at the White House and who was trying to get Trump and the Trump children to comply with the Ethics Rules eventually gave up and resigned. So without anyone to keep him in check, the president can do whatever he wants to do and no one, not congress, not anyone is going to check him. The only thing we can hope for is that Mueller can find collusion or some other high crimes committed by him and his transition team and it's off to the pokey for him and his family.

[LastLiberal in PalmSprings]

9. The reduction in value was made "after receiving additional information from the Trump Organization"

and we know you can always trust the Trump Organization to give you accurate information.

The foxes are guarding the hen house.

[politicaljunkie41910]

13. Of course it did, and of course he made it up like he makes up shit all the time.

Like he made up that letter from the guy who did his medical exam, Doctor Ronnie. The same Doctor Ronnie who can't spell his own name???

[Mc Mike]

10. That seems fair.

[mahatmakanejeeves]

11. Hmmm. Maybe people aren't reading this the same way I am.

Obnoxious blowhard: "I just opened the biggest, most impressive hotel that ever existed in Washington, DC. It's worth hundreds of millions of dollars."

DC tax assessor: "No, it isn't. At least not currently. At the next assessment, things might change. But not now."

I don't think the DC tax assessor is going to be impressed by obnoxious blowhards.

[onenote]

15. +1

I get the impression a lot of folks commenting didn't bother to read the entire story.

[KY_EnviroGuy]

12. I hope the press jumps on this....

and asks tRump or Huckabuck how many new AMERICAN JOBS will be created through this tax savings?

............ .........

[riversedge]

14. and recall that Trump said the #TrumpTaxScam would not help him. #LIAR

[onenote]

16. He lied about that. But this has nothing to do with the tax legislation

This is DC possessory interest tax. Administered by the DC government.