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Is Mar-a-Lago worth $1 billion? Trump’s winter home valuations are at the core of his fraud trial [repost because it is relevant to recent court ruling]
Associated Press ^ | October 9, 2023

Posted on 02/17/2024 8:53:00 PM PST by grundle

Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron found that Trump consistently exaggerated Mar-a-Lago’s worth. He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.

Pulitzer said the rock-bottom price for Mar-a-Lago would be $300 million. Thomson said at least $600 million. If uber-billionaires got into a bidding war, they said, a sale of a billion dollars or more would be possible.

The much smaller Palm Beach compound once owned by the Kennedy political dynasty sold for $70 million three years ago.

(Excerpt) Read more at apnews.com ...


TOPICS: Miscellaneous
KEYWORDS: florida
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To: packagingguy

Cuomo once said that if you are a Republican, you should MOVE OUT OF NEW YORK!! YOU AREN’T WANTED!


41 posted on 02/18/2024 4:22:48 AM PST by Ann Archy (Abortion....... The HUMAN Sacrifice to the god of Convenience.)
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To: Veto!

That judge is NOT such a MORON as he is PURE EVIL and needs an EXORCISM by his RABBI!!


42 posted on 02/18/2024 4:25:56 AM PST by Ann Archy (Abortion....... The HUMAN Sacrifice to the god of Convenience.)
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To: Fido969

“Only a jackass would use a tax assessor’s valuation as gospel for a fair market valuation.”

Not just that... When you value a business there are two parts to it that are combined as the total value. The physical property assets including equipment in or on the property, and the value of the “business” it’s self aside from physical assets such as loyal clientele, customer accounts, potential annual revenue, Etc.

When you value a business it is not just the real estate, it is also a total with all clientele, potential revenue, and equipment.


43 posted on 02/18/2024 5:12:38 AM PST by Openurmind (The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
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To: grundle

Everybody keeps comparing Mar A Lago with residential property. It’s not. It’s a profit center country club. You have to consider the income potential, not just the real estate value. It’s comparing apple to oranges, with the country club much more valuable than a residence.

“The agreement limits the club to 500 members — the initiation fee is $500,000 with annual dues of $20,000.”


44 posted on 02/18/2024 6:16:30 AM PST by suthener ( )
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To: grundle

you can claim your property is worth whatever you want.

that doesn’t mean the bank will go along with it.

these headlines require the reader to be ignorant of the basics surrounding real estate


45 posted on 02/18/2024 6:16:37 AM PST by sten (fighting tyranny never goes out of style)
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To: PGR88

Plus Maralago is also a business as well as a residence.


46 posted on 02/18/2024 6:34:34 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: personalaccts

There was probably added value to the property because Rush lived there. The price would probably be lower if he hadn’t owned it.


47 posted on 02/18/2024 6:40:24 AM PST by moviefan8 (The noblest art is that of making others happy. - P.T. Barnum)
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To: grundle

TRUMP paid $10M in 1985 and its value has only appreciated $8M in 40 years?

Was this judge trying to get back at him because his family was hoodwinked into buying the Brooklyn Bridge when they got off the boat?


48 posted on 02/18/2024 7:09:46 AM PST by shotgun
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To: grundle

Two bare lots near there sold for $200 million each. Trump’s property is 23 acres while the lots sold were two acres each.

Thus if Trump subdivided His 23 acres, he could get 11 lots, at least one with buildings.

11 x $200 million = $2.2 billion.


49 posted on 02/18/2024 8:15:39 AM PST by tired&retired (Blessings )
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To: Fido969

I have owned 4 houses since 1966.

I HAVE paid alot of property taxes.

I have those bills.

I HAVE NEVER SEEN an ASSESSED valuation come close to real value for selling.

MAYBE that idiot judge has always lived/rented apartment in NYC.

HE HAS NEVER seen a tax bill.


50 posted on 02/18/2024 9:09:33 AM PST by ridesthemiles
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To: Fido969

RECONSTRUCTION VALUATION LONG AFTER THE DATES IN QUESTION WOULD BE DIFFICULT.

THE APPRAISALS DONE AT THE TIME OF ANY LOAN WOULD BE DONE BY THE BANKS MAKING THE LOAN-—

ANY OUTSIDE OPINION IS JUST THAT-—

AN OPINION-—

NEITHER JAMES OR ENGORON HAVE ANY EXPERIENCE AS REAL ESTATE APPRAISERS.


51 posted on 02/18/2024 9:12:01 AM PST by ridesthemiles
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To: Reno89519

LOOK at your own tax bill——ANY OF YOU

Would you sell your property today for the ASSESSED VALUE shown on your tax bill???

The ASSESSED value shown on my most current tax bill == about 15% of what I would agree to sell it for.

5+++ acres—house/well/septic/garage/perimeter fenced & cross fenced


52 posted on 02/18/2024 9:25:56 AM PST by ridesthemiles
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To: Fido969

THIS WAS A LOAN DEAL..
BANKS DO THEIR OWN APPRAISALS.

Trump borrowed money

Trump pain the money back WITH INTEREST.

END OF DISCUSSION.

JAMES & ENGORON ARE FLAT OUT WRONG


53 posted on 02/18/2024 9:34:44 AM PST by ridesthemiles
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To: grundle

Jonathan Turley
@JonathanTurley

After this type of corporate public execution, it is hard to imagine many businesses rushing to the Big Apple. Drawing new businesses to the city is going to be about as easy as selling country estates during the French Revolution.

12:00 PM · Feb 17, 2024 1.5M Views


54 posted on 02/18/2024 9:36:33 AM PST by mewzilla (Never give up; never surrender!)
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To: grundle

What’s Zillow say?


55 posted on 02/18/2024 9:41:36 AM PST by moovova ("The NEXT election is the most important election of our lifetimes!“ LOL...)
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To: irishjuggler

The tax “value” is effectively meaningless when considering a potential sale price.

First off, they are set at a certain point in time and don’t fluctuate like real values do.

Second, they are set to merely be used as a base for property tax assessments.

Third, there is no reason to make them exactly match the actual value as the intent is to find relevance between one property vs another.

Fourth, it’s much easier to set the assessed values much lower than the actuals. The bureaucracy doesn’t want to fight everyone about their assessment, so using a formula that sets assessed substantially lower than actual keeps people from complaining. If you’re assessed at $500k and it’s been for sale for a long period of time at $500k there will be lawsuits. If you assess that same property at $250k they can’t complain as much.

Property tax BILLS are calculated by taking the assessed value times the mill rate. If you double the assessed value and halve the mill rate (and vice-versa), the tax bill would be the same.


56 posted on 02/18/2024 10:44:08 AM PST by BlueMondaySkipper (Involuntarily subsidizing the parasite class since 1981)
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To: ridesthemiles
RECONSTRUCTION VALUATION LONG AFTER THE DATES IN QUESTION WOULD BE DIFFICULT.

It's actually not that hard. You just use comps from around that time.

57 posted on 02/18/2024 12:23:18 PM PST by Fido969
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To: BlueMondaySkipper

You’re not telling me anything I don’t already know, but good summary


58 posted on 02/18/2024 2:17:27 PM PST by irishjuggler
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To: grundle
AP = Always Propaganda
59 posted on 02/18/2024 4:52:01 PM PST by Texas Fossil (Texas is not about where you were born, but a Free State of Heart, Mind and Attitude.)
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To: ridesthemiles

There’s no need for any of us to recalculate the value of Mar-a-Lago ourselves. Turns out Forbes estimated the value at $350 million in 2022, based on a range of estimates from realtors that ranged from $200 million to $750 million. Trump’s estimates were slightly on the high side, but definitely within the range of estimates given by professional realtors and brokers who know how to value properties, as opposed to dishonest criminal judges who make up the rules as they go. As far as I’m concerned, case closed.


60 posted on 02/18/2024 5:05:23 PM PST by FreedomVsControl
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