Post by Odysseus on Oct 6, 2023 19:19:55 GMT
Donald Trump's boast that his Florida resort, Mar-a-Lago, is worth much more than previously estimated has backfired and led to a demand to have it reappraised, which could lead to the former president paying higher taxes on the property.
A Palm Beach County property appraiser, Dorothy Jacks, estimated the value of Mar-a-Lago in the decade between 2011 and 2021 to between $18 million and $27.6 million—much lower than the hundreds of millions the former president claims the property is worth.
Her valuation was cited by Judge Arthur F. Engoron, who's overseeing Trump's civil fraud trial, in his ruling on September 26. He sided with New York Attorney General Letitia James, who launched the civil lawsuit, finding that the former president had inflated the value of his assets by as much as $2.2 billion.
A Palm Beach County property appraiser, Dorothy Jacks, estimated the value of Mar-a-Lago in the decade between 2011 and 2021 to between $18 million and $27.6 million—much lower than the hundreds of millions the former president claims the property is worth.
Her valuation was cited by Judge Arthur F. Engoron, who's overseeing Trump's civil fraud trial, in his ruling on September 26. He sided with New York Attorney General Letitia James, who launched the civil lawsuit, finding that the former president had inflated the value of his assets by as much as $2.2 billion.
Engoron determined there was "conclusive evidence" that Trump, the Trump Organization, and the former president's two adult sons, Donald Trump Jr. and Eric Trump, had committed fraud by misrepresenting his wealth and inflating the value of his assets. ...
Trump ≡ Fraud