quote:
The point is that anyone using the assessed value as the reasoning the persecution of Trump was justified is either intentionally dishonest or incredibly ignorant.

I do not agree with the way the NY law is being used against Trump. In fact, I'm surprised the law is still on the books given its vagueness.

I also don't know anything about New York property taxes.

But the allegation is Trump provided false information to tax officials in order to obtain lower assessments on commercial real estate. This isn't the same as a homeowner just allowing a low assessment value to exist.

One allegation from the suit is he told lenders and insurers that an apartment building was at 95% capacity and told tax assessors it was below 80%. That is clearly fraudulent in some form.

Is that a common real estate practice in New York? Are the insurers and tax assessors supposed to disregard these statements and do their own due diligence?

I don't know.

But none of this relates to anything Stewart did, unless New York also requests information from home owners in assessing residential property values.

Stewart probably knows the law suit is unwarranted, and the damage award is absurd. But Stewart is in the entertainment business. It's his job to make fun of things.

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Posted by BBONDS25

Member since Mar 2008

48805 posts

Posted on 3/30/24 at 10:53 am to Dday63

quote:
But the allegation is Trump provided false information to tax officials in order to obtain lower assessments on commercial real estate. This isn't the same as a homeowner just allowing a low assessment value to exist.

Who made this allegation? Simply objecting to the increased assessment is an entire industry in Florida. Especially since Florida has statutory limits on how much property taxes can increase annually. The “fraudulent” valuation Stewart was referring to was the one provided to the lender and used the assessed value as the reason the value presented to the lender was fraudulent. Who alleged fraud to the department of revenue? Was that part of the damages assessed by the judge?

quote:
One allegation from the suit is he told lenders and insurers that an apartment building was at 95% capacity and told tax assessors it was below 80%. That is clearly fraudulent in some form.

Not necessarily. You’re smart enough to know that occupancy of apartment buildings fluctuate daily. Were these claims made the same day, month, year?

Additionally, do occupancy rates change assessed value of property? I don’t know the answer to this, but it seems odd to me. I can see why it matters to a lender, but why would the assessor care?

quote:
But none of this relates to anything Stewart did, unless New York also requests information from home owners in assessing residential property values.

The entire basis Stewart used for saying Trump deserves this judgment was the representation to the lenders. The reason he claimed those representations to the lenders were fraudulent was because the assessed value is so much less. Stewart, and you, know that is completely bullshite.

You can parse other parts of the suit if you want. I’m game. The point remains, those are irrelevant to Stewart’s point. His point rested solely on appraised value vs assessed value. He knows better.

This post was edited on 3/30/24 at 10:58 am

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Posted by GetMeOutOfHere

Member since Aug 2018

706 posts

Posted on 3/30/24 at 11:14 am to Dday63

quote:
Stewart probably knows the law suit is unwarranted, and the damage award is absurd. But Stewart is in the entertainment business. It's his job to make fun of things.

Clown nose on, clown nose off.

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Posted by udtiger