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

[Jason Warfield]

“Fraud” has a loose meaning these days. Is it “fraud” to represent that a property is worth far in excess of its appraised value while only paying taxes on the lower appraised amount? If so, Stewart is just as guilty.

Fraud does not have a loose legal meaning these days.

And no, what Stewart and millions of other American home owners have done is not hypocritical when you understand that what is taxed is the value, not the sell cost.

When a property goes up for sale, the appraised value is listed as well as what the owner is looking for. The information is readily available upon request by the seller. There is nothing illegal on creating an asking price above the appraisal value….because the appraised value is required to be disclosed upon request.

If you are dumb enough to pay an asking price without looking at the appraised value, that’s on you.

Now what Trump did was fake the appraised value (illegal) to gain loans (illegal) and to devalue when paying taxes on the property (illegal).

Trump has every right to set the asking price as high as he wants…as long as he discloses the real, appraised value upon request. That’s what Stewart did.

Full disclosure: I was a licensed real estate appraiser in the state of Maryland. So, just fair warning before to try to argue the finer points with me.

 

[Kushinator]

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

And that's just a weird response.

 

[Deuce]

It’s unlikely that anyone (other than Trump or other threat to demorat power) would be found to be liable under the ridiculous allegation that they ‘unlawfully’ overvalued their real estate.

Did Stewart claim the house was 20,000 square feet larger than it is?

No?
Then stop making up these bullshit comparisons. Nobody is buying it.

 

[Callen]

Did Stewart claim the house was 20,000 square feet larger than it is?

No?
Then stop making up these bullshit comparisons. Nobody is buying it.

Not quite true .....the other Trumpers are lapping it up. Facts be damned!

 

[Deuce]

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.

He identified cash reserves he doesn't actually have access to, he inflated the size of his apartment, he lied about the number of units in housing developments. These aren't differences of opinion.

 

[Taylor]

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

That's the point. Now explain that to Judge Engoron.

 

[ttwtt78640]

Exactly!

It's common for sellers to market their homes that defy recent comps in their neighborhood. Nothing illegal about it because a loan appraiser has the final say for the party who buys the home, (providing the buyer carries a mortgage). If a bank has no problem with the alleged overvaluation and approves of the seller's valuation, a buyer has no problem paying the asking price, neither should a court. When we come down to it, it's none of the AG's business unless actual fraud takes place.

The judge started with the premise that there was (must have been?) actual fraud, yet never named who the victims of the fraud were.

 

[Callen]

The judge started with the premise that there was (must have been?) actual fraud, yet never named who the victims of the fraud were.

It gets so boring trying to educate Trumpers to the facts. The statute does not require a victim the filing of fraudulent business financial documents is the offense.

 

[holbritter]

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.

If you don’t know the difference, there is no hope. Did Stewart fraudulently get a loan?

 

[Airyaman]

The judge started with the premise that there was (must have been?) actual fraud, yet never named who the victims of the fraud were.

943. No Loss or Gullible Victims

www.justice.gov

"It is the scheme to defraud and not actual fraud that is required." United States v. Reid, 533 F.2d 1255, 1264 (D.C. Cir. 1976). "No particular type of victim is required . . . nor need the scheme have succeeded." United States v. Coachman, 727 F.2d 1293, 1302-03 n. 43 (D.C. Cir. 1984). No actual loss to the victims is required. See United States v. Pollack, 534 F.2d 964, 971 (D.C. Cir.)

 

[holbritter]

Judge Engoron and AG James judgement in the Trump case is that the fraud is manifest by representing property value as higher than tax appraised value. Stewart’s tax appraised value was only around $800K. So, according to the reasoning of said judge and AG, he committed fraud by representing the property as being worth more than that.

Nope. You are wrong. Period.

 

[holbritter]

My head is exploding from all the ignorance being shown in this thread. ****ing amazing!

 

[Gaius46]

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.

Not even remotely similar.

 

[holbritter]

You're just screeching, not rebutting. Fact is, Stewart undervalued his house for tax purposes, and property tax is how schools are funded. Now, you can tell me what I got wrong or you can screech some more.

Fact: a tax assessor sets the assessed value. Not the homeowner. Duh!

 

[Callen]

My head is exploding from all the ignorance being shown in this thread. ****ing amazing!

Not sure why your head is exploding . They are Trumpers which by definition is ignorance. My surprise is how pervasive it became.

 

[trixare4kids]

The judge started with the premise that there was (must have been?) actual fraud, yet never named who the victims of the fraud were.

I'm no legal expert but doesn't that seem to be what will cause this thing to be overturned? I can't imagine why the damages would remain since they couldn't and wouldn't prove who exactly was defrauded.

 

[holbritter]

Not sure why your head is exploding . They are Trumpers which by definition is ignorance. My surprise is how pervasive it became.

Yeah but some of these Trumpers had,what I thought, was intelligence.

 

[Taylor]

Fact: a tax assessor sets the assessed value. Not the homeowner. Duh!

Who sets the market value?

 

[Gaius46]

The judge started with the premise that there was (must have been?) actual fraud, yet never named who the victims of the fraud were.

Under NY law fraud does not require a "victim" (meaning someone who suffered a loss.

 

[Gaius46]

Who sets the market value?

The person who pays for it.

 

[Gimmesometruth]

I'm no legal expert

Shoulda stopped right there....

 

[Callen]

Yeah but some of these Trumpers had,what I thought, was intelligence.

Silly you. Although there are those who know better but think they are clever in their arguments, several, actually. I think they are the ones that most offend me.

 

[Gimmesometruth]

Who sets the market value?

the market

 

[ttwtt78640]

Under NY law fraud does not require a "victim" (meaning someone who suffered a loss.

OK, then who gets to keep the multi-million dollar settlement which is normally awarded to the ‘victim(s)’?

 

[trixare4kids]

Who sets the market value?

I can only deduce that there are many who have never owned real estate.