Hundreds of examples of fraud by Trump and his family, corporations

[LSU-SIU]

They are saying it is inflated. My point is, there could be a basis for inflated values compared to property tax assessments. I wonder if "perceived value" is part of the assessment for property. I would not think it is.

I guess they are talking about a Mark to Market with real estate, it was always my understanding is assets that aren't liquid would be harder or almost impossible to determine unless based on income from the property as the basis.

????

 

[McDad]

Best discussion not found in the OT thread on this board in months.

I'm geeking out over here. LOL

 

[Jxn Vol]

There's some truth to that. But the man's shady. If he did the crime he needs to do the time.

That could be said about a lot of the establishment. But they never seem to get looked into. Funny how that works.

 

[McDad]

Was this a county wide reappraisal? This doesn't sound right, the city and county should have to vote on the new tax rate, and it usually hits the local news because they always raise the rate, but generally I've never of anyone getting their tax doubled.

This was the county re appraisal set for every 4 years. If there was any discussion on rate increases or to remain the same, I was unaware.

What I pay doubled because assessed value doubled.

 

[VolStrom]

There's some truth to that. But the man's shady. If he did the crime he needs to do the time.

You do know that Trump wasn't charged with any crimes, don't you? The NY AG file a civil suit against the Trumps.

 

[McDad]

I guess they are talking about a Mark to Market with real estate, it was always my understanding is assets that aren't liquid would be harder or almost impossible to determine unless based on income from the property as the basis.

????

I agree with your understanding. There is no "gold standard" to assess actual value of property. Much of it is subjective...outside the value based on income produced. My banker considers appraisal value and income a property produces. Anyone who has heard the phrase, "debt to income" should be familiar with the concept.

 

[VolStrom]

This was the county re appraisal set for every 4 years. If there was any discussion on rate increases or to remain the same, I was unaware.

What I pay doubled because assessed value doubled.

Sounds like you got hosed. I'd be asking what the certified tax rate was and then raising hell with the county and city commissioners if they just left the rate the same. They can never have too much money.

 

[McDad]

You do know that Trump wasn't charged with any crimes, don't you? The NY AG file a civil suit against the Trumps.

WTF??

I missed that part. NY AG isn't alleging any criminal activity?

What a freaking waste of time.

Who or what were the injured parties? tax assessor's office, and insurance companies?

 

[825VOL]

This was the county re appraisal set for every 4 years. If there was any discussion on rate increases or to remain the same, I was unaware.

What I pay doubled because assessed value doubled.

Most areas have a set period of time as to when property values are reassessed. In my area it is every 4 years. The city/county looks at the increase or decrease in values within a certain area and then increases the property assessment accordingly. The mileage rate (tax rate on assessed property) does not change unless voted on. This is why your property taxes go up every so many years.

 

[McDad]

Sounds like you got hosed. I'd be asking what the certified tax rate was and then raising hell with the county and city commissioners if they just left. the rate the same. They can never have too much money.

I didn't get hosed, my tenants did. I showed them the new appraisals and passed the increase on to them with equivalent increases to rent.

But Barry at the assessor's office told me it was literally a waste of time to appeal. And I've known him for years even before he was elected as assessor.

 

[VolStrom]

I didn't get hosed, my tenants did. I showed them the new appraisals and passed the increase on to them with equivalent increases to rent.

But Barry at the assessor's office told me it was literally a waste of time to appeal. And I've known him for years even before he was elected as assessor.

Why do I see Obama's face when you mention your tax assessors name?

 

[Septic]

But you couldn't do that with inflated appraisals. IDK where the word inflated came from, but it must be a misnomer if indeed he manipulated the tax appraisal.

No, my understanding is that they were using evidence that suggested that the values were much lower.

 

[McDad]

Why do I see Obama's face when you mention your tax assessors name?

Imagine Obama as a middle aged white country boy. lol.

 

[Septic]

This has to be one of the more stupid things you have ever posted, and that is saying a lot.

If I go to the bank for a loan on my property and tell them my property is worth 500K and they accept that number, it is solely on the bank. To me, it may be worth that much or more. To an appraiser it may only be worth 300K. It is not the borrower's fault that the figure given to the bank is not accurate. It is up to the lending institution to determine accurate value before making a loan on a property.

If a bank lost money on the difference in a interest rate based on loan-to-value by using a value given my the borrower without verifying it, it is strictly the stupidity of the bank. In no way was a law broken in this process.

Try to keep up - the AG is putting forth that the inflated worth of collateralized cash and real estate assets made him a lower risk. I'm not making the argument - the AG is. If you have a problem with "stupid things being posted", feel free to send the AG an email.

 

[hog88]

I did that one time with a duplex.

It went about as expected.

Yep, best I ever got was a polite no.

 

[AirVol]

You do know that Trump wasn't charged with any crimes, don't you? The NY AG file a civil suit against the Trumps.

James is behind in the polls, so she needed news.

 

[825VOL]

Try to keep up - the AG is putting forth that the inflated worth of collateralized cash and real estate assets made him a lower risk. I'm not making the argument - the AG is. If you have a problem with "stupid things being posted", feel free to send the AG an email.

My problem is ignorant people like you and others lapping up the BS being dished out by the AG. She can claim whatever she wants to but claiming something so stupid does not make it criminal or even a civil violation.

 

[VolStrom]

No, my understanding is that they were using evidence that suggested that the values were much lower.

Like these?

James is accusing Trump and his children of creating more than 200 misleading evaluations of the company’s finances and other forms of misrepresentation, including by falsely inflating the square footage of his own apartment from 11,000 to 30,000 in financial filings. As a result, Trump declared the apartment to be worth $327 million, an amount James said is significantly greater than any apartment ever sold in New York City.

The lawsuit includes dozens of examples of allegedly false financial filings, from contending that Trump inflated his net worth as part of a scheme to purchase the Buffalo Bills to his successful bid to build a hotel in the Old Post Office Building in Washington, D.C. — which became a prominent hive of pro-Trump activity during his presidency and netted $100 million when it was sold in May

 

[LSU-SIU]

I agree with your understanding. There is no "gold standard" to assess actual value of property. Much of it is subjective...outside the value based on income produced. My banker considers appraisal value and income a property produces. Anyone who has heard the phrase, "debt to income" should be familiar with the concept.

I am reading the complaint, its fairly long but something I am noticing (at this point). Is that they are claiming fraud but don't seem to be giving barebones information as to the fraud. Just because there might incorrect or inaccurate information doesn't mean that the information was provided was done for the purpose of defrauding.

It doesn't look like anyone lost any monies and actually towards the end... Trump was refusing to providing a new bank financial information at all i.e. it was up to them to do their own DD.

I'm still reading but I don't see where taxes are involved.

 

[Septic]

WTF??

I missed that part. NY AG isn't alleging any criminal activity?

What a freaking waste of time.

Who or what were the injured parties? tax assessor's office, and insurance companies?

The AG stated they were turning over criminal aspect over to the feds.

 

[Zues1]

Good lord do you people enjoy watching the same episode of Big Blame Theory everyday.
Goodness give it " America" a break already.
Just like witch Hillary he's not going to jail.
Ain't gonna happen. So put your party hats away.

 

[Septic]

My problem is ignorant people like you and others lapping up the BS being dished out by the AG. She can claim whatever she wants to but claiming something so stupid does not make it criminal or even a civil violation.

My problem is with idiots like you not having the intellectual capacity not recognize that I'm not passing judgement, I'm explaining on what is being alleged and why.

Back to the drawing board, nerd.

 

[Septic]

Like these?

I believe the compliant lays out a number of examples of the alleged deception.

 

[lawgator1]

Isn’t that what I said? Each party, the bank and the state, has the burden to arrive at a representative valuation for their purposes? And I’m guessing both parties are going to just not take the property owner’s word for it?

It is still illegal to intentionally misstate it. That is the allegation here -- that it was an organized scheme of doing this, across many transactions, and that Trump HIMSELF, as well as others, actively did this.

 

[VolStrom]

I believe the compliant lays out a number of examples of the alleged deception.

I just quoted those because they seemed to be prominent in more than one news article that I read. I still don't see how inflating the prices of a property can lower the tax rate or decrease their income taxes? Other than making Trumps lawyers more money and costing NY more tax dollars that they are losing to Florida every day, this is a waste of time and money.