Trump Rang In Birthday by Inflating Golf Club Value by $42 Million

[martybegan]

There are far more details to this story.. IMO the fraud is deliberate. I'll post a second source.

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NEWS
Trump Rang In Birthday by Inflating Golf Club Value by $42 Million
Usatodaynews December 15, 20210
Photo Illustration by Thomas Levinson/The Daily Beast/Getty

A small town north of New York City is now openly confirming it has received subpoenas for two separate investigations into the Trump National Golf Club Westchester, where the Trump family has aggressively fought to lower its tax bill—while claiming a vastly inflated value elsewhere.

Since 2016, the town has valued the golf club at roughly $15 million. And every year, the Trump family business has tried to knock down the value drastically. And yet, on White House financial disclosures, then-President Donald Trump declared the golf club was worth more than $50 million.

“At least one of them is false,” said John Moscow, a renowned former prosecutor who spent 33 years at the Manhattan District Attorney’s Office. “This is a relatively clean way to prove these people lie to evade taxes and push the tax burden on honest taxpayers.”

at The Daily Beast.

…read more

Source:: The Daily Beast

You do realize the town is valuing the PROPERTY value, while if Trump used the course as an asset the value used would be the BUISINESS value, right?

 

[Toddsterpatriot]

When you inflate or deflate your assets to your advantage when it comes to paying taxes, that's a crime.

If only the taxing body a way to determine asset values......they could call it an assessor's office.

 

[mudwhistle]

When you inflate or deflate your assets to your advantage when it comes to paying taxes, that's a crime. That's what Trump did.

Yes....you cannot decide how much your property is worth for tax purposes.....only the government can do that.
So....they're simply making this shit up .

 

[Polishprince]

I don't know what they do in New York state, but in Pennsylvania and Ohio the tax assessors tell you what the "assessed value" of you property is- you don't tell them.

And the criteria for challenging an assessment isn't your statement as to what the value of the property is, but how your assessment compares to other properties of similar value.

A property could be overassessed even if assessors say the assessed value is 5 cents, or it could be underassessed if they said the value was $5 billion. Depends on how it compares with the other properties.

 

[mudwhistle]

If only the taxing body a way to determine asset values......they could call it an assessor's office.

NO WAY!!!!

THAT SHIT DOESN'T EXIST.........THAT'S INSANE!!!

 

[mudwhistle]

I don't know what they do in New York state, but in Pennsylvania and Ohio the tax assessors tell you what the "assessed value" of you property is- you don't tell them.

And the criteria for challenging an assessment isn't your statement as to what the value of the property is, but how your assessment compares to other properties of similar value.

A property could be overassessed even if assessors say the assessed value is 5 cents, or it could be underassessed if they said the value was $5 billion. Depends on how it compares with the other properties.

Only a person willing to believe anything the Democrats say or do is foolish enough to buy into this nonsense.

 

[BWK]

Yes....you cannot decide how much your property is worth for tax purposes.....only the government can do that.
So....they're simply making this shit up .

"They're?" You mean Trump's accountant don't you, who's under oath.

 

[mudwhistle]

"They're?" You mean Trump's accountant don't you, who's under oath.

You mean that scumbag they convinced to lie under oath to keep from going away for the rest of his life for wirefraud?

 

[Polishprince]

"They're?" You mean Trump's accountant don't you, who's under oath.

Personal accountants don't assess their employer's real estate. Government employees do that, using computers in an effort to make the process equitable.

 

[BWK]

Yes....you cannot decide how much your property is worth for tax purposes.....only the government can do that.
So....they're simply making this shit up .

Trump wasn't deciding. He was claiming his properties were worth nothing to tax accessors, and inflating values to the banks. He was committing tax fraud, and bank fraud.

 

[BWK]

You mean that scumbag they convinced to lie under oath to keep from going away for the rest of his life for wirefraud?

You have documentation Weisselberg lied?

 

[BWK]

Personal accountants don't assess their employer's real estate. Government employees do that, using computers in an effort to make the process equitable.

I never said they did. Weisselberg was hiding income for Trump. It's why he was indicted, and why he will go to jail.

 

[mudwhistle]

Trump wasn't deciding. He was claiming his properties were worth nothing to tax accessors, and inflating values to the banks. He was committing tax fraud, and bank fraud.

Tax accessors don't ask the owner what he thinks his property is worth....and what would be the purpose of inflating the value to the bank? Don't you think the bank is smart enough to hire an appraiser? There is no crime in claiming your property is worth more than the bank thinks it's worth. The bank decides.

 

[BWK]

The reason why this story is Bullshit is that tax assessment values are based on comparisons.

Without knowing the assessed value of other golf properties in Westchester County, its impossible to know if Trump's property is assessed fairly or not. The idea of assessment is for all of the property values in a jurisdiction to be equitable.

Since the story doesn't mention the assessments assigned to the other properties, the story seems to be just a cheap attack on the Trumpster.

Since Weisselberg was indicted for hiding Trump's income, take a wild guess what that income was?

 

[Polishprince]

Since Weisselberg was indicted for hiding Trump's income, take a wild guess what that income was?

Property tax isn't based upon income, its based upon the value of the property.

So you are changing the subject here.

 

[BWK]

Tax accessors don't ask the owner what he thinks his property is worth....and what would be the purpose of inflating the value to the bank? Don't you think the bank is smart enough to hire an appraiser? There is no crime in claiming your property is worth more than the bank thinks it's worth. The bank decides.

Not if you are dealing with Deutsche bank and money laundering. Weisselberg wasn't hiding income for nothing. Trump and Deutsche Bank: It’s Complicated | Trump, Inc. | WNYC Studios

You really have to be out to lunch not to connect the dots.

 

[WorldWatcher]

How would Hillary replace them if she doesn't run?

Well technically...

• Pelosi could resign,
• House elects Clinton as Speaker of the House,
• Biden and Harris resign,
• Speaker (Clinton) becomes President.

[DISCLAIMER: Not going to happen, but that is the only way I can think of.]

WW

 

[BWK]

Property tax isn't based upon income, its based upon the value of the property.

So you are changing the subject here.

Inflating your assets to Deutsche bank, to get big loans, then laundering the money, is hiding income. That's bank fraud.

As for the property tax, I myself have approached the tax accessor to make the case that my property value is not worth what they say it was. But what Trump was doing, had nothing to do what that. Trumps battle with tax accessors was a gross display of cheating over the property values; The pattern has also been reported by CNN. In 2017, CNN found that Trump had fought the tax assessments of all 12 of his US golf courses except the one in Bedminster, New Jersey. That included his Trump National Golf Course Westchester, which Ossining, New York, said was worth $15.1 million, but which Trump, fighting for a smaller tax bill, argued in court the property was worth just $1.5 million. So, you tell me how he changed the value from $15 million to $1.5 million?

 

[BWK]

You do realize the town is valuing the PROPERTY value, while if Trump used the course as an asset the value used would be the BUISINESS value, right?

Are they? The pattern has also been reported by CNN. In 2017, CNN found that Trump had fought the tax assessments of all 12 of his US golf courses except the one in Bedminster, New Jersey. That included his Trump National Golf Course Westchester, which Ossining, New York, said was worth $15.1 million, but which Trump, fighting for a smaller tax bill, argued in court the property was worth just $1.5 million. Looks to me Trump tried to snooker tax accessors into changing their worth from $15 million to $1.5 million.

 

[Orangecat]

Lol at the idiots who think Trump is personally doing his taxes and determining the worth of his properties.