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

[VolStrom]

The value on all my properites doubled since last appraisal 4 years ago. I call Barry ( I know the assessor personally) and he told me I could appeal but I would be wasting my time.

In TN it doesn't matter what your appraisal is, it matters what the total appraisal is of all the properties, so they can set a tax rate that brings in the same tax revenue as the previous tax appraisal. Some taxes may go up and some may go down, but what usually happens is the governments set the tax rate to increase revenue and blame it on the tax assessors office because everyone's tax goes up.

 

[Septic]

Don't get snarky with me because you're taking a dumb position. I could give two ***** about the whole thing except the "fraudulent activity" is something I see routinely.

Dumb position? I'm simply pointing out what the complaint is stating, just because you routinely do the same thing isn't and excuse or a defense against what the complaint is alleging. I simply pointed out the check boxes needed to satisfy a complaint of lending fraud, I haven't taken a "position" on anything but facts - each time referring to trumps frauds as alleged.

 

[Grand Vol]

Is it really happening??????

Did they get him this time?????

 

[McDad]

Ok, more thought to the claims.

If DJT's business is structured where he pays a value tax on the business holdings, I could see where fluctuating values resulted in less taxes. In my county in TN, business property taxes exclude the value of the real estate owned or rented by the business.

 

[n_huffhines]

I don't know either, I was responding to the other posters comment about a banks requirements and taxes. If my understanding is correct, its alleged he was overstating the values to the banks while also arguing for lower taxable values through the tax appraiser. I was simply noting I don't think a lender has an dog in that fight.

I thought taxes are solely based on the county appraisal, and in my limited experience, they generally lowball the value in favor of taxpayers.

 

[C-south]

Maybe things are different for multi million dollar properties, but if I default on my loan the bank takes possession of assets up to the amount defaulted. Foreclosures are not a new concept.

Right. But a bank providing loans for these massive amounts would normally verify the value of the properties by performing their own appraisals and not just take someone’s word for it.

 

[Septic]

Lol. Change Trump’s “willful deception” to the banks “willful ignorance” or lack of due diligence.

Change the penal code to that and you'll have a point.

 

[C-south]

I thought taxes are solely based on the county appraisal, and in my limited experience, they generally lowball the value in favor of taxpayers.

Lol.

 

[Septic]

I thought taxes are solely based on the county appraisal, and in my limited experience, they generally lowball the value in favor of taxpayers.

Sure they do, but you can still petition for them being lower - and as Hogg noted, you generally have t supply them with supporting evidence.

 

[McDad]

I thought taxes are solely based on the county appraisal, and in my limited experience, they generally lowball the value in favor of taxpayers.

We have county and city. And, generally the tax appraisal is lower than fmv. Sometimes, like the 2008-2012 housing bubble tax appraisal is actually higher. But it is so rare it is hardly worth mentioning.

 

[happy-go_vol]

So if Trump assessed his properties lower to the a tax guy (whose job is to set tax rates on buildings). I wonder if he bribed the assessors. I don't see the tax assessors, from a overtaxed city, cutting anyone a break. It doesn't make any sense

 

[Septic]

I thought taxes are solely based on the county appraisal, and in my limited experience, they generally lowball the value in favor of taxpayers.

Sure they do, but you can still petition for them being lower - and as Hogg noted, you generally have t supply them with supporting evidence.

Every year I get my next years estimated change and included in the document is a time and place I can show up to challenge the appraisers assessment.

 

[McDad]

In TN it doesn't matter what your appraisal is, it matters what the total appraisal is of all the properties, so they can set a tax rate that brings in the same tax revenue as the previous tax appraisal. Some taxes may go up and some may go down, but what usually happens is the governments set the tax rate to increase revenue and blame it on the tax assessors office because everyone's tax goes up.

Are you talking about all the properties in the city and/or the county???

 

[McDad]

Every year I get my next years estimated change and included in the document is a time and place I can show up to challenge the appraisers assessment.

I did that one time with a duplex.

It went about as expected.

 

[LSU-SIU]

Ok, more thought to the claims.

If DJT's business is structured where he pays a value tax on the business holdings, I could see where fluctuating values resulted in less taxes. In my county in TN, business property taxes exclude the value of the real estate owned or rented by the business.

Sure but that could be said of anyone at that point. I guess I am confused as to what the loan would have to do with anything.

 

[n_huffhines]

Sure they do, but you can still petition for them being lower - and as Hogg noted, you generally have t supply them with supporting evidence.

Every year I get my next years estimated change and included in the document is a time and place I can show up to challenge the appraisers assessment.

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.

 

[McDad]

Another thought on the inflated values.

Trump is a celebrity. His real estate is part of his image. He licenses his NIL to other companies for a fee.

It could be argued, maybe even proven, his name on the building increases its value. Just as Graceland is higher value because Elvis owned it.

 

[LSU-SIU]

Another thought on the inflated values.

Trump is a celebrity. His real estate is part of his image. He license his NIL to other companies for a fee.

It could be argued, maybe even proven, his name on the building increases its value. Just as Graceland is higher value because Elvis owned it.

But the AG is saying they inflated the value of the assets.

 

[McDad]

Sure but that could be said of anyone at that point. I guess I am confused as to what the loan would have to do with anything.

I think the it is 3 different issues all at once.
1. Higher values to banks as collateral for loans
2. Lower values to city, county, state for reduced property taxes
3. And something about fluctuating values which increased his income (which is completely foreign to me).

ETA... i think the increase profits angle in number 3 comes from lower insurance rates by undervaluing the properties. Which is risky if there was an insurance claim against the property. With the vitriol over DJT, his assets should be over insured, not under insured.

 

[EasternVol]

The uniparty is scared to death of him.

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

 

[McDad]

But the AG is saying they inflated the value of the assets.

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.

 

[VolStrom]

Are you talking about all the properties in the city and/or the county???

Yeah, that's how the state law is set up. Every county is. required to do a reappraisal every so many years, so each property is reappraised. Once this is done, the tax assessors office sets a new certified tax rate that will bring in the exact same amount of money as the previous tax rate did. Often times, (every time in my county) the city and county commissioners sets a tax rate higher than that and a tax hike is born. The tax assessors office usually sets the appraisal lower than the property is worth, so you'd be talking to the wind to get it lowered if you were one of the lucky few that had their tax appraisal set higher than the average. It's a pretty devious plan they have going.

 

[McDad]

Yeah, that's how the state law is set up. Every county is. required to do a reappraisal every so many years, so each property is reappraised. Once this is done, the tax assessors office sets a new certified tax rate that will bring in the exact same amount of money as the previous tax rate did. Often times, (every time in my county) the city and county commissioners sets a tax rate higher than that and a tax hike is born. The tax assessors office usually sets the appraisal lower than the property is worth, so you'd be talking to the wind to get it lowered if you were one of the lucky few that had their tax appraisal set higher than the average. It's a pretty devious plan they have going.

Ok, now I understand.

My recent appraisals doubled the value of my properties. My rate per 100k remained unchanged. Which effectively doubled my annual tax bill owed to both the city and county.

 

[825VOL]

The argument is that the banks would have been damaged by offering lower interest rates than what his income and assets would have normally afforded. This increased his profits while reducing theirs, based on his deception.

It's a bit astonishing that suddenly the rule of established loan fraud law is now in question with some of you guys.

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.

 

[VolStrom]

Ok, now I understand.

My recent appraisals doubled the value of my properties. My rate per 100k remained unchanged. Which effectively doubled my annual tax bill owed to both the city and county.

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.