Tag

Property Valuation

All articles tagged with #property valuation

law4 months ago•1 min saved

Legal Battles Continue for Trump Despite Recent Court Rulings

The New York Appellate Division ruled that the $500 million fine against Trump for overvaluing properties was unconstitutional, challenging the case brought by Attorney General Letitia James. Although this decision may not be the final word, it marks a setback for the case, which is likely to be reviewed by the state's highest court, the Court of Appeals. The case and Judge Engoron's rulings have been controversial, with previous decisions being reversed.

via New York Post|

#appellate-court #dollar500-million-fine #fraud-case

legalcriminal1 year ago•12 min saved

"Trump's Empire Under Scrutiny: Verdict Looms in $370M Fraud Case"

The civil fraud trial of Donald Trump and the Trump Organization, presided over by Justice Arthur Engoron at the New York State Supreme Court, has revealed alleged fraudulent inflation of property values to obtain tax, loan, and insurance incentives. The New York Attorney General's office brought the case, alleging that at least 11 of Trump's annual financial statements included more than 200 false and misleading asset valuations. Properties such as Trump Tower, Trump Park Avenue, 40 Wall Street, Trump International Hotel, Mar-a-Lago, and Trump National Doral Golf Resort were scrutinized during the trial, with discrepancies in reported values and actual property sizes and revenues being highlighted. The trial has raised questions about the future of the Trump real estate empire and the potential ramifications for the Trump Organization.

via The Independent|

#civil-fraud-trial #donald-trump #legalcriminal

legalcivil-fraud-trial2 years ago•3 min saved

"Mar-a-Lago Takes Center Stage in Trump's Civil Fraud Trial"

In Donald Trump's civil fraud trial, his defense focused on the value of his Mar-a-Lago club in Palm Beach, Florida. Testimony from a real estate attorney and a luxury real estate broker emphasized the club's potential as a home, contradicting legal documents stating it should only be used as a club. The broker valued Mar-a-Lago at over $1 billion in 2021. The property's value is crucial to the New York state lawyers' claims that Trump fraudulently exaggerated its worth. Trump denies any wrongdoing and argues that his financial statements undervalued his assets. The trial also involves allegations that Trump deceived lenders by overstating the values of his prime assets, including Mar-a-Lago.

via The Associated Press|

#civil-fraud-trial #donald-trump #legalcivil-fraud-trial

legalcriminal-justice2 years ago•3 min saved

"Experts and NY AG clash over Trump family's fraud trial testimony"

In the fraud trial against Donald Trump, an old friend of the former president testified as an expert witness for the defense, emphasizing that property valuations are subjective. The witness, Steven Witkoff, was allowed to testify only about the Trump Building at 40 Wall St. before the direct examination abruptly ended. Witkoff recalled his friendship with Trump, which began with a deli encounter, and testified without pay. The trial, brought by the state Attorney General, will determine liability and potential damages. The defense argued that fraud requires intent, which had not yet been proven. Another expert witness, Jason Flemmons, testified about property valuation methods. Trump's son, Donald Trump Jr., also testified, focusing on the history and properties of the Trump Organization. Additionally, Trump dropped his appeal to move his criminal case related to hush money payments to Stormy Daniels from state to federal court.

via New York Daily News|

#expert-witness #fraud #legalcriminal-justice

business2 years ago•3 min saved

"Trump's Scotland Castle: A Controversial Centerpiece in NYC Civil Trial"

Donald Trump's Scottish castle and golf courses have become the focus of a civil trial in Manhattan, where he is accused of overstating the value of his properties in Aberdeen and Turnberry. The lawsuit, brought by New York Attorney General Letitia James, alleges that Trump "vastly overstated the value" of undeveloped land and "improperly inflated the value of the golf course" at the Aberdeenshire resort. Trump's daughter, Ivanka Trump, has also taken the stand in the trial, which is proceeding without a jury. Trump's Scotland properties are considered among his "most beloved."

via New York Post |

#business #civil-trial #donald-trump

politics2 years ago•3 min saved

"Controversy Surrounds Mar-a-Lago's Valuation and Potential Buyers"

Donald Trump's claim that his Florida resort, Mar-a-Lago, is worth much more than estimated has led to a demand for reappraisal, potentially resulting in higher taxes for the former president. A property appraiser estimated the value of Mar-a-Lago to be between $18 million and $27.6 million, significantly lower than Trump's claims of hundreds of millions. A judge overseeing Trump's civil fraud trial found evidence that he had inflated the value of his assets by as much as $2.2 billion. A new valuation in line with Trump's claims could lead to higher taxes. Some experts suggest the property's value might be higher if it were put on the market.

via Newsweek|

#donald-trump #fraud-trial #mar-a-lago

politics2 years ago•1 min saved

"House Democrat questions tax value of Mar-a-Lago, while Haley speaks out on McCarthy"

Representative Jared Moskowitz, a Democrat from Florida, has requested that Mar-a-Lago, former President Donald Trump's residence and private club, be taxed at the value Trump claimed it was worth, which is over $1 billion. This move is part of New York's civil fraud case against Trump, where he is accused of inflating property values to secure favorable loans while paying taxes based on lower valuations. The judge in the case valued Mar-a-Lago at $18 million, but Eric Trump, Trump's son, believes it could be worth $1 billion. Moskowitz's request challenges the property's valuation and highlights the ongoing legal battle surrounding Trump's financial practices.

via The New York Times|

#donald-trump #lawsuit #mar-a-lago

politics2 years ago•4 min saved

"Trump's Mar-a-Lago Valuation Controversy: Is it Really Worth $1.8 Billion?"

Former President Donald Trump claimed that Mar-a-Lago is worth $1.8 billion, despite a New York judge ruling that the property was valued between $18 million and $28 million by the Palm Beach County Property Appraiser. In 2020, Trump's own company acknowledged the county's valuation of $27 million. Mar-a-Lago is at the center of a $250 million civil lawsuit filed by the New York Attorney General, alleging fraud and overvaluation of properties by Trump and his company. The upcoming trial will focus on other allegations, including falsification of business records and insurance fraud.

via CBS News|

#donald-trump #fraud #lawsuit

legalcriminal-justice2 years ago•5 min saved

New York AG Accuses Trump of Inflating Net Worth by $2.2 Billion

New York Attorney General Letitia James has accused former President Donald Trump of fraudulently overvaluing his properties by up to $2.2 billion over a decade. James seeks to bar Trump and his children from leading the Trump Organization and impose a fine of around $250 million. Trump's lawyers argue that the case should be thrown out, citing a recent appellate court decision. Both sides have filed for summary judgment, and a hearing is scheduled for late September. The lawsuit disputes the value of Trump's properties, including Mar-a-Lago and Trump Tower, and alleges fraudulent financial statements to obtain loans.

via The New York Times|

#donald-trump #fraud #lawsuit

real-estate2 years ago•6 min saved

Property Assessment Woes: Homeowners Face Deal Loss and Appeal Deadlines

An Independence woman lost a deal to sell her home after the buyer backed out due to the Jackson County property valuation, which was significantly higher than expected. The county valued the property at $660,600, while the sale was agreed upon at $480,000. The buyer's agent cited the "outrageous valuation" as the reason for canceling the deal. The homeowner, Kim Clark, is now appealing the valuation and wants to join a class action lawsuit filed by other property owners who did not receive timely notice of their updated valuations. Clark is in a time-sensitive situation as she needs to sell the home to pay for her children's college expenses.

via KMBC Kansas City|

#class-action #home-sale #jackson-county

politics2 years ago•5 min saved

Ohio's $86 billion budget passes with universal school vouchers and tax breaks

The Ohio legislature has reached an agreement on an $86.1 billion general fund budget, which includes income and business tax cuts, expanded school choice, and changes to property valuations. However, an initiative from Butler County lawmakers to change property valuation rules was removed from the final budget. The budget also includes provisions for education, such as using the House's K-12 funding formula and expanding school vouchers, as well as reducing commercial activity taxes for businesses. Social programs, including child care funding, received mixed support, and billion-dollar set-aside funds proposed by the Senate were reduced. The final budget will be signed by Governor Mike DeWine on Monday.

via Hamilton Journal News|

#budget #education #ohio

real-estate2 years ago•4 min saved

Polk County Employee and Private Citizen Challenge Property Assessments.

A Polk County employee, Deputy Auditor Carl Wiederaenders, has filed protests with the county's assessor's office, challenging the valuation of 23 properties that he says are at odds with their recent sales prices. Most of the appeals asked for homes sold for $1 million or more to be assessed at higher valuations, though in a few cases, he asked that assessments be lowered. The appeals will be heard by the assessor's board of review.

via Des Moines Register|

#appeals #iowa #polk-county