Posted on 09/27/2023 4:29:19 PM PDT by TheWriterTX
The recent decision in NY concerning the alleged "fraud case" against President Trump is highly flawed on its face. Here are some important talking points to use when you encounter the uninformed.
When it comes to property, there are multiple levels of valuation. I'm going to use an actual property and current records to show how they vary substantially depending on the situation.
*Market Value
The market value is what a property will sell for on the open market. Your listing agent will determine the value of your home based on comparable sales in the area. Upgrades, renovations, enhancements, location, access, schools, crime, can all figure into the equation. We've all seen small homes in a tight market sell for a lot more than asking price. Conversely, we've seen articles about homes that had their prices cut by millions. This valuation is "perceived value."
Let's presume a condominium with 200 units has an average market value of $355K per unit. By that estimate, the building is worth $71,000,000.
*Appraised Value For Insurance
When it comes to insurance, the carrier is only looking at the physical assets; pool, clubhouse, fitness center, buildings, monuments, gates, boiler and machinery, etc. Sometimes, it will cover the grounds as well, but not usually. They are calculating the cost to rebuild to pre-loss condition. Some businesses will only ensure some assets and reduce their insurance by self-funding in the event of a loss.
This property is currently valued at $61M for insurance purposes. A big difference.
For a property like Mara Lago, the valuation difference would be huge because of all the land attached to it. The value is in the land (the golf course) more so than the structures.
*Appraisal for Property Tax Purposes
If you check out the value of your home or similar homes in your area, and then check out your appraised value in the county Appraisal District, you will see that they do not match.
Further, land use designates the value for tax purposes. Agricultural use, common areas for homeowners associations, churches, businesses, etc. have a different "land" tax rate (separate from the improvements tax rate). Since Mara Lago has lots of land restricted for a specific use, it would not have the same valuation as a vacant lot available for residential development. Further, developers often take advantage of tax breaks to restore historic lands. Most municipalities see it as a win-win. An otherwise dormant or underperforming property now generates taxes for them.
In the case of our 200 unit building, the average valuation is $242,000 per unit, for a total of $48.4M. Again, a big difference.
*The Glaring Omission
What this moron judge never once took into consideration is that the value of Mara Lago was not just the land and structures, but the business attached to it. Club membership, rentals, special events, and more are all a perpetual revenue stream and the bulk of the perceived value. This can only be determined by looking at the books of the business prior to sale and not the loan submission forms. Someone looked at those books and green-lighted it.
How much a business generates does not determine how much it pays in property taxes. A 2K sq. ft. business will pay the same property taxes whether they earn $10K a year or a million.
So when you encounter TDS, please share this with them. They will automatically reject it of course because Orange Man Bad, but normal people will be able to easily see that this is yet another railroad job by an out-of-control DA and Judge.
Any appraisal or assessment is an opinion. Opinions vary.
The problem is the communists and half-apes who've taken over our legal system.
Start there.
Summery Judgement from the Bench will be appealed. This was a violation of Civil Rights.
Summery Judgement from the Bench will be appealed. This was a violation of Civil Rights.
If Trump defrauded anyone, where is the alleged “victim” of said fraud?
Republicans see the destruction of the countries founding principles and the harshest word they can come up with is “flawed”. Country is in BIG trouble.
I sure hope that when New York City becomes as was depicted in Escape from New York, for real, this judge and DA don’t become cat food. That would be a real shame.
The judge committed fraud by deliberately undervaluing Trump’s properties with the intention of punishing him for being Trump.
Mara Lago is worth 20 times what the judge determined was its value. That’s fraud.
The AG knows that. Trump may not be able to sue the judge, but if the AG signed papers under penalty of perjury claiming Mara Lago was only worth $18 million, then she committed perjury.
Yep. His right to a trial by a jury of his peers was violated. He will be suing the state of NY and NYC for billons.
The problem was the judge was a partisan hack who could give a rats ass about the truth, its all about hurting Trump..if I were Trump, I would take my business out of New York, they dont appreciate him anyway so why bother..let New York go down the drain
there is a property currently for sale in the area for 37 million, smaller than mar a lago..so that property is going for 37 mil but mar a lago is only worth 18 mil, negro please
It’s been my observation for quite a few decades that most judges consider themselves to be some sort of omnipotent entity passing down wisdom, etc. from on high (their bench). One of the problems with judges, politicians, etc. is there has been little or no consequences for ignoring the law, and even the Constitution they swore an oath to protect and defend. Until these people are held to account, things will only get worse. How many times does a judge need to be overturned, overruled, or formally admonished before they should be removed? It has become obvious that impeachment of those individuals is something the politicians wish to avoid at all costs. Why, it’s almost like they are working together to thwart the law and the will of the governed.
You only need that one The case is brought by a Republican. If the case is brought by Democrats going after a Republican you don’t need anybody who’s been harmed. They’re claiming the state was harmed
Appreciate you laying that out.
‘Pod.
Gee I wonder what the judge’s house mortgage is vs the insurance valuation vs the property tax valuation. Inquiring minds’ wonder…….
A good nuclear device targeting New York City would be a blessing..Might be some good People there but like Lott they need to leave..
From a poster at another message board:
(The judge didn’t determine the value was $18 Million.
The Palm Beach County Assessor set the valuation at $18 Million IN 2011 and it had grown to $27.6 Million in 2021.)
https://www.usmessageboard.com/attachments/1695847835832-png.834981/
The ultimate fallacy is that Trump or his agents are not the ones to appraise the property to determine the number.
At most, there’s an application. If apply for a home equity loan, I can say my house is worth a trillion.
They then thank me for the application fee and send someone out to appraise it.
Even saying its worth 27 mil is a total farce. there are properties at The Oaks in Calabasas that go for 27 mil and are way way smaller than Mar A Lago, Mar A Lago is a palace essentially
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