• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Napoleon said:
This is the same thing. If it is a fraud to represent to third parties that a property’s value is far in excess of its appraised value for the purpose of profit then Stewart is guilty.
Click to expand...
Who is the third party in this case?
 
Geoist said:
Considering the wealth of these people, it was more than likely in cash.
Click to expand...
Perhaps, but people as wealthy as this don’t have loads of cash sitting around. Like Trump, they rely on personal loans from financial institutions using various assets as collateral. So it’s likely this inflated value was cited to a bank at some stage of this transaction.
 
Taylor said:
Tell that to Judge Engoron. He claims Trump overvalued his property by "at least 2300%" using a comparison to the value assigned by the country tax assessor.
Click to expand...

What should I say in my message to Engoron?

3,000 sq ft is basically the same as 30,000 sq ft?

Tell Engoron it should have only been 1000% instead of 2300%?
 
CaughtInThe said:
wait. are you coming out against capitalism now?
Click to expand...

Nope, I’m “coming out” against the state deciding they know what a property was (or is) ‘really worth’ better than a (mortgage) lender.

Real estate is generally (kept) undervalued (from its ‘fair market value) for property tax assessment purposes. That’s done to allow unelected bureaucrats to (annually) increase property tax revenue by (selectively) increasing the assessed value of real estate without requiring any legislative action (to raise the property tax rate).

As long as the (new) assessed value can’t be proven to exceed the property’s ‘fair market’ value then the property owner can’t successfully challenge the reassessed value.
 
Callen said:
Show me where it states that Stewart misrepresented the value of his property? It was tax assessed for X and he sold it for Y. Where did he purfusully misrepresent the attributes and value of his for lone purposes?
Click to expand...
The sale was off market as well.
 
Zyphlin said:
I think the Tish James prosecution, and specifically the penalty, to be unseemly and wrong….

But this with Stewart is not remotely like what Trump was sued for, other than both involve properties valued in varying ways
Click to expand...
You do make a good point because in the Trump situation NOBODY was harmed and in the Stewart case the guy that bought the place took a bath to the tune of millions of dollars.
 
ttwtt78640 said:
Nope, I’m “coming out” against the state deciding they know what a property was (or is) ‘really worth’ better than a (mortgage) lender.
Click to expand...
you appear to not even know the trump case.

maybe take some time and catch up.
 
Napoleon said:
Perhaps, but people as wealthy as this don’t have loads of cash sitting around. Like Trump, they rely on personal loans from financial institutions using various assets as collateral. So it’s likely this inflated value was cited to a bank at some stage of this transaction.
Click to expand...
Wouldn't it be the buyer who cited it to the bank?
 
Napoleon said:
Perhaps, but wealthy people don’t have loads of cash sitting around.
Click to expand...

Probably not in checking/savings accounts. But they likely have a lot of liquid money in stocks, short-term treasuries, etc.

Napoleon said:
Like Trump, they rely on personal loans from financial institutions using various assets as collateral. So it’s likely this inflated value was cited to a bank.
Click to expand...

It's $17.5 million. Lots of Manhattan multi-millionaires/billionaires can afford that no problem without a bank loan.
 
CaughtInThe said:
you appear to not even know the trump case.

maybe take some time and catch up.
Click to expand...
Let’s make this easy for you. Is it or is it not fraud to profit from a false* representation of property value?

*False being defined as any amount in excess of tax appraisal value.
 
PoS said:
nypost.com

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.
nypost.com nypost.com


LOL the usual lib hypocrisy. If Trump got taken to court then so should Jon Stewart, but since he's a lib we know thats not gonna happen. Rules for thee but not for me.
Click to expand...
Shouldn't he be on trial? Lock him up!!!
 
Taylor said:
I already told you...
Click to expand...

You honestly cannot recognize the distinctions?
Seriously and earnestly?
You're not just playing along with the gag because you're team player?

You really and truly are unable to see the difference?


To you, that is the same thing as saying 3,00 sq ft is 30,000 sq ft?

And me personally doubling the difference from 1000% to 23000% is the same thing as letting two outside parties make their judgments?

This really, really, really all looks identical to you?

...really?


. . . seriously?
 
Only
Napoleon said:
According to you folks it is. At the core, Trump and Stewart did the same thing. They represented to third parties that the value of their property is far in excess of the appraised value they were paying taxes on and they “profited” from those representations.
Click to expand...

Only to those ignorant of how actual real estate works.... Cheese and rice.... For supposed "capitalists", the MAGA crowd sure seems ignorant of how capitalism actually works...
 
Napoleon said:
Let’s make this easy for you. Is it or is it not fraud to profit from a false* representation of property value?

*False being defined as any amount in excess of tax appraisal value.
Click to expand...
It's fraud to misrepresent your property value in writing to a bank to secure a loan for more than your property is worth. It's not fraud to sell your home to a buyer who is willing to pay above market value for it.
 
Simon W. Moon said:
You honestly cannot recognize the distinctions?
Seriously and earnestly?
You're not just playing along with the gag because you're team player?

You really and truly are unable to see the difference?


To you, that is the same thing as saying 3,00 sq ft is 30,000 sq ft?

And me personally doubling the difference from 1000% to 23000% is the same thing as letting two outside parties make their judgments?

This really, really, really all looks identical to you?

...really?


. . . seriously?
Click to expand...
Ok, you apparently did not follow the Engoron case. Moving on...
 
lwf said:
It's fraud to misrepresent your property value in writing to a bank to secure a loan for more than your property is worth. It is not fraud to sell your home to a buyer who is willing to pay above market value for it.
Click to expand...
:) (y)
 
Napoleon said:
Let’s make this easy for you. Is it or is it not fraud to profit from a false* representation of property value?

*False being defined as any amount in excess of tax appraisal value.
Click to expand...
so we have yet another poster not familiar with the trump case.

fox/republicans/republican media has done a wonder con job yet again.
 
Napoleon said:
They represented to third parties that the value of their property is far in excess of the appraised value they were paying taxes on and they “profited” from those representations.
Click to expand...

We know Trump did this. How do you know Stewart did this?
 
You must log in or register to reply here.
Back
Top Bottom