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He never has one. He's been wrong since at least Bush 43.Yep, but what is your point?
He never has one. He's been wrong since at least Bush 43.Yep, but what is your point?
You're missing the point. A deed restricted property is valued on the basis of cash flows generated.... It's in the link you presented to me. I guarantee the proper would fetch more than $18 - $28 million. That's not the point. Trump valued it at $700+ million when it was valued by professionals at $500+ million.
Do you understand how this is entirely different from the Stewart situation?
Source?
What are the most common lies made on loan applications?
Now that you know the risks when you lie on your loan application, here is a list of the most common misrepresentations made on loan applications. Use this list to avoid the following pitfalls and ensure that you are being straightforward with your application:
- Lying about your income
- Failing to report outstanding debt
- Falsifying employment status
- Making false residency claims
- Exaggerating the value of your assets
- Lying about the purpose of the claim
The realtor overvalued, and Stewart didn't turn them into the authorities.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?
He wasn't convicted at all. In any case, he was found liable for several things related to bank fraud so not sure why you might want to quibble over that detail.That wasn’t what Trump was convicted of.
Engoron, who ruled before the trial that Trump and his co-defendants committed fraud with his financial statements, found Trump liable on five of the six remaining claims in James’ lawsuit: falsifying business records, issuing false financial statements, conspiracy to commit insurance fraud and conspiracy to falsify business records.
this post is a lie.It's a shame you don't like it.
no. just truth.Deflection.
You didn't read your own source. Typical for partisans who are only interested in playing gotcha. Try again. Otherwise, we don't have anything more to discuss. The cult's ignorance has been out on full blast.That’s it’s value for property tax purposes, nothing more.
But who did that? Please show your work.
In the very own article you cited:Yep, but what is your point?
Why are you here, other than to make single sentence troll posts that add zero value to any discussion?He never has one. He's been wrong since at least Bush 43.
Did Trump have a value based on a 3rd party appraisal, or did he just use a number he came up with?That was the conclusion of the court case. At issue was Trump's estimated property values on his bank application, and the State's evidence of fraud was the Palm Beach tax assessments which they argued were the real value, so Trump's estimate was fraud.
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Source
Srsly dude, these are not even remotely the same thing. That you try and portray this as hypocrisy shows a desperation on your part.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
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.
The ruling cited tax appraisal for 2011... It's not like the damages were based on the valuation differences.That was the conclusion of the court case.
In Florida, Commerical properties are often not taxed on what they'd sell for, but for how much income they generate. The "market value" here is not the same as what you could sell the property for on the open market - it's an estimate of how much income the property would generate if it were rented for a single year.
In the very own article you cited:
Mar-a-Lago’s county appraisal takes into account the deed restriction
Mar-a-Lago is not valued by the county as if it were a luxury home because it is a private club. Trump in 1995 signed a deed of conservation and preservation easement, which means he ceded the right to use the property for anything other than a social club.
That means the property appraiser uses an income-based valuation for the property, Becky Robinson, a spokesperson for the property appraiser, told PolitiFact.
"Mar-a-Lago is one of nine deed-restricted clubs in Palm Beach County, and all are valued in the same manner," Robinson said. "The income approach to valuation capitalizes the net operating income that private clubs could generate. This means that the value of the property is determined based on the amount of income that it generates as a club."
That’s different from determining the value of a house, when appraisers consider recent sales of nearby homes, and determine a comparable value.
Why are you here, other than to make single sentence troll posts that add zero value to any discussion?
Robinson said the county bases its assessments on the law and its formulas, not the value owners claim.
WHY IT MATTERS
In her lawsuit against Trump, New York Attorney General Letitia James argued that Mar-a-Lago was one of multiple assets Trump overvalued in financial statements given to banks and others.
On those statements, Trump valued Mar-a-Lago as high as $739 million — a figure James said ignored deed restrictions requiring the property to be used as a social club — not a private home. Her lawyers have argued that in his financial statements, Trump should have valued Mar-a-Lago the same way the county does, based on its club status.
Trump's financial statements, the New York lawyers wrote, valued the club “based on the false and misleading premise that it was an unrestricted residential plot of land that could be sold and used as a private home, which was clearly not the case.”
Trump's lawyers have said no trickery was involved, and that banks probably didn't rely on his financial statements anyway when determining whether to lend him money.
The ruling cited tax appraisal for 2011... It's not like the damages were based on the valuation differences.
In reality, the club is to be valued on a net income basis, which would put it closer to $75 million in today's terms.
And? If Trump wanted to be accurate with his financial records, he should have obtained a 3rd party appraisal of Mar-a-Lago. If he makes up his own value assessment, then it is unsupported and therefore false.In Florida, Commerical properties are often not taxed on what they'd sell for, but for how much income they generate. The "market value" here is not the same as what you could sell the property for on the open market - it's an estimate of how much income the property would generate if it were rented for a single year.
They (Trump Organization) valued it on a false and misleading basis. That's the point. You didn't get to win the Internet gotcha game today. At least you leaned something.OK, that tax break (based on intended use) was a result of Trump’s voluntary restrictive agreement concerning his property’s use. That has no bearing on the property’s (potential) fair market value.
They (Trump Organization) valued it on a false and misleading basis. That's the point. You didn't get to win the Internet gotcha game today. At least you leaned something.
Cash flow basis for tax assessment.The ruling USED the tax appraisal of 2011 and the value of the property, somethin you have already agreed is not the same as the property value.
You have no idea what you're taking about. I am not shocked. Perhaps you can respond by telling my I'm making your point for you? That's right on schedule.All you have done is supplement in a new method of valuation that the court didn't use, and your assessment also is not the market value of the property.
That's how they assess it for tax purposes. All of this would need to be disclosed in the financial documentation presented to potential lenders. They didn't and they lost. Not just in this instance, but literally in dozens of others.The value of the business conducted on the property is also not the value of the property itself.
Which was ruled improper and illegal. Hence the loss. All of this would need to be disclosed.Nope, they valued it based on a different basis.
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
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.
Which was ruled improper and illegal. Hence the loss. All of this would need to be disclosed.
Take the knee. Of all the folks I'm engaging with, I thought you were better than this.
Unless it was allegedly done by Trump.