LogFAQs > #979475365

ClayGuida posted...

I'm still curious as to why his tax valuation is low but his credit valuation is high.

You pay taxes on what something is worth, not what you say it's worth. You can't tell the state or city that your home is worth $10,000 and expected to get taxed on that then turn around and leverage it as worth tens of millions. That's not how property taxes work.

If MAL is worth 18 billion, then his property tax in WPB should be astronomical, not lower than what I pay for a 1800 square foot house.

You don't tell the State what your property is worth for purposes of property tax, they tell you, and then you can argue with them if you think the assessor was too high. Trump's numbers though are business valuations, so the value of the property plus whatever income it can generate. So the State likely values all of his properties much lower than what he is using in his business valuations ( in of itself not unusual, local assessors generally undervalue properties against what it would really get on the market) and he has an outlandish sense of self worth and penchant for outright lying that drive his figure for income generated to astronomical proportions.

Those other business owners hand-wringing about they could be next is because it is pretty much standard to lie on all these things because they are derived from assessments and not facts, but Trump took it to a whole new level of bullshit. Hopefully not all of them are as crooked as him, but well...