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

[Kushinator]

I’m content to wait for the appeal(s).

 

[jmotivator]

Cash flow basis for tax assessment.

Nope.

Again, the Trump organization valued the property on a false and misleading basis, which is why they lost. Getting hung up on $18 million valuations misses the first four the trees.

No, they didn't. They based in on the Palm Beach real estate market, which is how you value... ya know.. real estate.
By your own stupid argument I guess Judge Engoron committed fraud too since he undervalued the Trump property based on your cash flow assessment.

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.

Your hand waving is noted and dismissed.

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.

No, they didn't. Real Estate taxes are not Business taxes. The first clue is that the real estate taxes are collected as real estate taxes and business taxes aren't collected as real estate taxes...

By your argument a well kept but poorly run hotel is valued based on the current business income alone and not the value of the property itself. So an immaculate hotel in a choice location that isn't making a profit is valued at... $0?

If you don't have anything else to add, you may have the last word. Your ignorance and pettiness has over again been exposed....

LOL. Run away, again.

 

[American]

no. just truth.

you should start a new group. maybe call it "Republicans Against Capitalism By Liberals"

Just delusion.

 

[noonereal]

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.

This is stupid. The assessed value by you county or town for property tax purposes has zero do with fair market value.

 

[CaughtInThe]

Just delusion.

I think we get it. I think you guys have to try anything possible to divert away from what trump actually did with his taxes and his lies about square footage and all that stuff that doesn't make it to you guys from Fox or Newsmax or wherever.

So, again, start that group.

 

[Airyaman]

Now you watch the likeminded never Trumps rush in to defend his hypocrisy.

There is no hypocrisy.

If my house is appraised for $200k and I find someone to buy it for $300k, no fraud.

If my house is appraised for $200k and I tell a bank it is worth $300k, that is fraud.

 

[Kushinator]

Nope.

Yep.

No, they didn't. They based in on the Palm Beach real estate market, which is how you value... ya know.. real estate.

They overvalued... at the time it was by roughly $200 million. It's already been established in this thread.

By your own stupid argument I guess Judge Engoron committed fraud too since he undervalued the Trump property based on your cash flow assessment.

My cash flow assessment?

The judge didn't value anything... he made a ruling. Now the cult is out to find anything, just like this OP. Sad? Yep. Pathetic? You bet! But that's par for the course when it comes to all things MAGA.

No, they didn't. Real Estate taxes are not Business taxes. The first clue is that the real estate taxes are collected as real estate taxes and business taxes aren't collected as real estate taxes...

I can't help that you do not grasp how deed restricted clubs are assessed.

By your argument a well kept but poorly run hotel is valued based on the current business income alone and not the value of the property itself. So an immaculate hotel in a choice location that isn't making a profit is valued at... $0?

It's how a deed restricted club is assessed real estate taxes. There are other types of deed restricted pieces of real estate, like places of worship, private schools, etc....

The Trump organization didn't provide transparent financial statements, and tried to bake the property as though it was not a restricted commercial property.

You refuse to even acknowledge it, which is why you continue to lose.

LOL. Run away, again.

 

[jmotivator]

It's how a deed restricted club is assessed real estate taxes. There are other types of deed restricted pieces of real estate, like places of worship, private schools, etc....

Sigh, again, that is not how the market value of the property is determined. That MARKET PRICE is what the bank cares about because in the case of a default it is that value that will determine the risk of the loan.

Back to the BnB example that you avoided, would the loan the bank issued for the home that was goin to be used in the business be based on the estimated value of the property, or the estimated income? If, as you said, the real estate tax is based on the income assessment of the business, then by your own argument the estimate used by the court is wrong because it's not the income of the business connected to the property that determines the sales value of the property, only the taxes assessed.

Again, if a business is make $0 on a $20 million condo complex, the value of the condo complex on the open market isn't $0.

 

[AZRWinger]

Show me the law that says it's illegal to sell your property far above market value.

Stuart had to represent his property was worth far more than market value by the NY standard applied to Trump that is fraud. But don't worry, as long as Stuart pimps for the Biden regime he won't be prosecuted.

 

[Kushinator]

Sigh, again, that is not how the market value of the property is determined. That MARKET PRICE is what the bank cares about because in the case of a default it is that value that will determine the risk of the loan.

What was the market price of Mar a Lago in 2011? What did Trump claim in order to receive better lending terms?

Back to the BnB example that you avoided

It's an irrelevant example as it didn't portray either situations being discussed in this thread.

Again, if a business is make $0 on a $20 million condo complex, the value of the condo complex on the open market isn't $0.

If it's deed restricted in the same manner, the tax assessment will be more reflective of the cash flows. I'm not going to pretend to know the models they use, but the fact remains Trump lied for personal gain.

 

[bubbabgone]

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.

Jon says it's not the same as Trump so I guess we have to accept that.

 

[Kushinator]

Stuart had to represent his property was worth far more than market value by the

Someone offered him a value that was well above assessment.

NY standard applied to Trump that is fraud

This is false. He didn't disclose the restrictions and completely lied by presenting the property as residential to potential lenders. This is illegal because it's lying for personal gain.

But don't worry, as long as Stuart pimps for the Biden regime he won't be prosecuted.

Awwwww.

 

[Kushinator]

Jon says it's not the same as Trump so I guess we have to accept that.

Do you understand the difference?

 

[lwf]

Jon says it's not the same as Trump so I guess we have to accept that.

Or you can actually look at the specifics of both examples. Trump lied. There's no evidence that Stewart did.

 

[bubbabgone]

Do you understand the difference?

Yes.
Stewart is a never Trumper and so is Tish.
Trump is an always Trumper.

 

[bubbabgone]

Or you can actually look at the specifics of both examples. Trump lied. There's no evidence that Stewart did.

Then again. Trump told the banks that what he put up was worth a certain amount but that they should do their own evaluation.
Did Stewart tell the buyers to do that?

 

[SkyFox76]

Nope.



No, they didn't. They based in on the Palm Beach real estate market, which is how you value... ya know.. real estate.
By your own stupid argument I guess Judge Engoron committed fraud too since he undervalued the Trump property based on your cash flow assessment.



Your hand waving is noted and dismissed.



No, they didn't. Real Estate taxes are not Business taxes. The first clue is that the real estate taxes are collected as real estate taxes and business taxes aren't collected as real estate taxes...

By your argument a well kept but poorly run hotel is valued based on the current business income alone and not the value of the property itself. So an immaculate hotel in a choice location that isn't making a profit is valued at... $0?



LOL. Run away, again.

Judge Engoron didn't undervalue anything. He was given those numbers by the assessors.

 

[lwf]

Then again. Trump told the banks that what he put up was worth a certain amount but that they should do their own evaluation.
Did Stewart tell the buyers to do that?

I assume Stewart did not lie to his buyers about the particulars of the property in order to trick them into paying more than the property was worth. If someone thinks he did, they are welcome to present any evidence to prove it.

 

[bubbabgone]

Sure are an awful lot of Democratics here calling themselves Independents these days.
Wonder what that's all about.

 

[jmotivator]

Judge Engoron didn't undervalue anything. He was given those numbers by the assessors.

His ruling used the tax assessment which is less than the properties market value should he choose to sell it, or if the bank chose to sell it if he defaulted on a loan.

 

[Callen]

The realtor overvalued, and Stewart didn't turn them into the authorities.

Oh OK.....if you say so

 

[jmotivator]

What was the market price of Mar a Lago in 2011? What did Trump claim in order to receive better lending terms?

the market price is whatever someone pays for the property. What value did the bank place on the property when they did the loan assessment?

It's an irrelevant example as it didn't portray either situations being discussed in this thread.

Yes, it does. If by your argument the real estate tax was done on the business income rather than the value of the property on the open market, then the assessment used by the court is wrong. The court could have used the value that was assed by the bank in determining the loan, but they ignored the testimony of the bank who was a witness for the defense.

If it's deed restricted in the same manner, the tax assessment will be more reflective of the cash flows. I'm not going to pretend to know the models they use, but the fact remains Trump lied for personal gain.

You keep avoiding the point. We can state that the real estate tax are be based on cashflow, but what value does the BANK use in issuing the loan to buy the property?

By your argument, the market value of a hotel property of a business making $0 is $0...

 

[bubbabgone]

I assume Steward did not lie to his buyers about the particulars of the property in order to trick them into paying more than the property was worth. If someone thinks he did, they are welcome to present any evidence to prove it.

MSN

www.msn.com

But it didn’t take long for internet sleuths to look into Stewart’s own property history, where it shows an overvaluation of his New York City penthouse by a staggering 829%, records confirmed by The Post show.
In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records.

But according to 2013-2014 assessor records obtained by The Post, the property was market-valued at only $1.882 million. The actual assessor valuation was even lower, at $847,174.
Records also show that Stewart paid significantly lower property taxes, which were calculated based on that market value price — precisely what he called out Trump for doing in his Monday monologue.

Pande, who purchased the penthouse from Stewart, then resold the property at a nearly 26% loss than what he initially paid for it, according to the Real Deal — at just over $13 million — in 2021.

The diff with Trump is that he was looking for a bank loan and told the banks to make their own estimate.
Stewart for looking to make a kill on his sale. Buyer beware.

 

[lwf]

MSN

www.msn.com

The diff with Trump is that he was looking for a bank loan and told the banks to make their own estimate.
Stewart for looking to make a kill on his sale. Buyer beware.

Selling a property for a profit is legal. Lying about the property in order to do so is illegal.

 

[Gatsby]

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.

What are you even alleging here?

Are you saying that Jon Stewart lied to the buyer about the property's value? Properties are worth whatever people are going to pay for them, and if Parag Pande is described as a "financier" then I assume he's a big boy who can determine the value himself.

Are you saying that Jon Stewart conspired with the buyer to pay him more than his property is worth, in exchange for...what exactly? He's a semi-retired comedian, he doesn't have any power. Did he give Parag Pande a shoutout in his stand-up comedy?

When you figure out what sort of wrongdoing you're even accusing him of doing, you be sure to let us know.