Posted on 10/17/2019 2:02:27 AM PDT by TigerClaws
Full title: Newly uncovered tax documents show Trump 'kept two sets of books for his buildings in New York City - one for lenders and another for inspectors - and may have committed financial fraud'
Tax documents relating to President Donald Trump's properties in New York City have been uncovered - with experts suggesting they could point to financial fraud.
The documents obtained by ProPublica were part of records detailing four Trump properties: The Trump International Hotel and Tower, 40 Wall Street, Trump Tower, and 1290 Avenue of the Americas.
The website claims that there are discrepancies in the tax records for 40 Wall Street and the Trump International Hotel and Tower which could raise concerns.
The numbers appear to show he gave different figures to lenders than NYC tax officials.
Newly uncovered tax documents show Trump 'kept two sets of books for his buildings in New York City - one for lenders and another for inspectors - and may have committed financial fraud'
Tax documents relating to President Donald Trump's properties in New York City have been uncovered - with experts suggesting they could point to financial fraud.
(Excerpt) Read more at dailymail.co.uk ...
Which part did you appeal? Seems as if the retail value which the Bank would use to determine the collateral value would be determined strictly by comps while assessment for property tax purposes would be determined by taking approximate resale value and using a multiplier (example 70%) to determine taxable amount.
Prima facia case of fraud according to the media.
I have done numerous appeals for myself and clients over the years.
I paid less than 40% of the county real estate tax appraised value for my home (60% below tax appraised value). I got a certified appraisal and appealed 2 levels at the county (lost), then the state department of revenue appeals board (lost) and then appealed to the state superior court (won).
Ordinarily it would not be worth it, but I did it myself except for the certified appraisal and the Superior Court Appeal.
It lowered my assessed value by about $700,000 and about $7,000 in real estate taxes per year.
I checked the court cases relating to the specific statute in the state and only two had been won, both by the same law firm and their client was IBM both times. I hired them for the Superior Court filing and won easily. The state review board chair was reprimanded by the Superior Court.
and how were they uncovered.
The problem is that your appraisal must be as of the same date as the county wide appraisal date. Any other appraisals do not carry weight.
At the state review board I challenged the county appraiser and made a fool of her. Her appraisal of the home included a photo of the house with a “For Sale” sign in the front yard.
She never checked the list price that it was on the market for sale. It was $600,000 below her appraisal as of the same date. Total incompetence.
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