So, destroy the rule of law cause you hate the "orange man"?
Send a message to every politician in the country. Do what they say or you'll cheer as they shove the guy into prison. And, I bet you pretend to hate "them", too.
The state, city and county adjustors all have this property valued for Taxes, and you can bet 300 million that None of them has it at 18 mil. One or all should be brought to testify in this farce of a trial, and when they say 300 Plus million, the judge, DA, AG and everyone involved in this should be perp walked to jail.
The tax appraisal is $18-25 million. That's the whole jist of the civil case. They are claiming Trump Org committed fraud to get a loan deal by using an appraisal value of his estate and other properties that was higher than the tax appraisal evaluation. It's absurd on its face, but they don't give a shit. They want headlines to con intellectually lazy people, and give politicians talking points.
The Trump Org. also had a misprint on one of his properties that overstated the square footage.
This is the joke! Nothing he's accused of here is actually illegal, but dems know their voters are morons with no business experience or knowledge of finance.
Your tax appraisal is determined by the State/county, and it's meant to be valid for many years so often valuations are lower in periods of strong swings. Regardless, it's not YOU who tells the State what to pay on your property, it's them. Next, taking out a loan against estimated value of a property used for collateral is ALSO not determined by you - no lender will accept it as collateral without sending out an appraiser. If they do not send out an appraiser, it means they don't care and consider you credit worthy (very likely in the case of Trump, who has a long history with real estate-backed loans).
In almost zero cases will you find the appraised loan value of a house equal to the tax appraisal, owing to their entirely different standards and processes. In the case of Mar-A-Lago the variation sounds exceptional but it's easy to explain as a it is a unique property. Based on OP's comment regarding a neighboring property, the Mar-A-Lago estate is primarily being taxed by the State on the value of the location, with "improvements" ie the house itself, being largely disregarded. This is not unreasonable. For the purposes of loan collateral, one might value the estate itself VERY highly, due to its historical value. A loan-issuer could bank on that as part of collateral, whereas the tax authorities will not.
Yes. Anyone who has ever owned a piece of property and paid property tax knows that the tax appraisal ain't got shit to do with loan value. It's fucking insane that they are trying to pull this shit.
Now, their star witness, fuck up and total jew faggot, Micheal Cohen, admits he lied and never heard Trump tell anyone to do anything illegal. Judge still won't toss it out.
[ + ] Deleted
[ - ] deleted -3 points 1.6 yearsNov 3, 2023 17:18:02 ago (+0/-3)
[ + ] FreeinTX
[ - ] FreeinTX 2 points 1.6 yearsNov 3, 2023 18:42:14 ago (+2/-0)
Send a message to every politician in the country. Do what they say or you'll cheer as they shove the guy into prison. And, I bet you pretend to hate "them", too.
[ + ] RepublicanNerd
[ - ] RepublicanNerd 1 point 1.6 yearsNov 3, 2023 18:16:15 ago (+1/-0)
[ + ] H8Texpress
[ - ] H8Texpress 0 points 1.6 yearsNov 3, 2023 18:40:45 ago (+0/-0)
[ + ] KyleIsThisTall
[ - ] KyleIsThisTall 1 point 1.6 yearsNov 4, 2023 07:34:33 ago (+1/-0)
[ + ] Bufordxl
[ - ] Bufordxl 3 points 1.6 yearsNov 3, 2023 16:28:31 ago (+4/-1)
[ + ] FreeinTX
[ - ] FreeinTX 3 points 1.6 yearsNov 3, 2023 18:40:10 ago (+3/-0)
The Trump Org. also had a misprint on one of his properties that overstated the square footage.
[ + ] Empire_of_the_Mind
[ - ] Empire_of_the_Mind 2 points 1.6 yearsNov 3, 2023 19:05:22 ago (+2/-0)
Your tax appraisal is determined by the State/county, and it's meant to be valid for many years so often valuations are lower in periods of strong swings. Regardless, it's not YOU who tells the State what to pay on your property, it's them. Next, taking out a loan against estimated value of a property used for collateral is ALSO not determined by you - no lender will accept it as collateral without sending out an appraiser. If they do not send out an appraiser, it means they don't care and consider you credit worthy (very likely in the case of Trump, who has a long history with real estate-backed loans).
In almost zero cases will you find the appraised loan value of a house equal to the tax appraisal, owing to their entirely different standards and processes. In the case of Mar-A-Lago the variation sounds exceptional but it's easy to explain as a it is a unique property. Based on OP's comment regarding a neighboring property, the Mar-A-Lago estate is primarily being taxed by the State on the value of the location, with "improvements" ie the house itself, being largely disregarded. This is not unreasonable. For the purposes of loan collateral, one might value the estate itself VERY highly, due to its historical value. A loan-issuer could bank on that as part of collateral, whereas the tax authorities will not.
tl;dr: it's all a big joke
[ + ] FreeinTX
[ - ] FreeinTX 2 points 1.6 yearsNov 3, 2023 19:26:58 ago (+2/-0)
Now, their star witness, fuck up and total jew faggot, Micheal Cohen, admits he lied and never heard Trump tell anyone to do anything illegal. Judge still won't toss it out.