The Media Industry

[Seattle Husker]

I'm still curious to how Trump was supposedly cooking the books in regards to the value of his properties. I'm not Trump but I do have a considerable amount of property and I have little say so in regards to their value. The county does that. How does New York do theirs?

If the accusations from the AG and the NYDA have merit, he was sharing different information to the city/county then he was to the banks. To the city/county he appealed his valuations building a case that their values were depressed. To the bank he shared a different set of data, over-valuing the properties to get better rates to diminish his debt/equity ratio. Mazars is protecting itself because they are the auditor that was standing behind Trump, helping him get the sweet valuations. If the "truth" was less than the rosy picture he portrayed to Deutsch Bank, then their credibility is at stake. That's the reason for their abandonment of him now.

 

[iatrogenic]

If the accusations from the AG and the NYDA have merit, he was sharing different information to the city/county then he was to the banks. To the city/county he appealed his valuations building a case that their values were depressed. To the bank he shared a different set of data, over-valuing the properties to get better rates to diminish his debt/equity ratio. Mazars is protecting itself because they are the auditor that was standing behind Trump, helping him get the sweet valuations. If the "truth" was less than the rosy picture he portrayed to Deutsch Bank, then their credibility is at stake. That's the reason for their abandonment of him now.

Any bank that lends on real estate without an independent appraisal gets what they deserve.

 

[Garmel]

If the accusations from the AG and the NYDA have merit, he was sharing different information to the city/county then he was to the banks. To the city/county he appealed his valuations building a case that their values were depressed. To the bank he shared a different set of data, over-valuing the properties to get better rates to diminish his debt/equity ratio. Mazars is protecting itself because they are the auditor that was standing behind Trump, helping him get the sweet valuations. If the "truth" was less than the rosy picture he portrayed to Deutsch Bank, then their credibility is at stake. That's the reason for their abandonment of him now.

That is the part I don't understand. All the bank would have to do is look at the property values that the city/county says it's worth and ignore whatever Trump is pushing. It's not hard to get since property value is public info.

 

[BrntOrngStmpeDe]

Any bank that lends on real estate without an independent appraisal gets what they deserve.

True. The bank does deserve what it gets. But I would imagine they do get appraisals on the actual property they are taking as collateral but for an investor who is using his "portfolio" as additional justification, you aren't going to appraise everything in the portfolio. It could still however impact the lending decision quite a bit.

The bank deserves to take the hit But so should Trump if he understates for tax reasons and then overstates for borrowing reasons. That is called Fraud.

 

[Horn6721]

I don't want to see naive
but IF it is proven Trump did that
is he the only one to ever do that?

 

[Seattle Husker]

That is the part I don't understand. All the bank would have to do is look at the property values that the city/county says it's worth and ignore whatever Trump is pushing. It's not hard to get since property value is public info.

In Washington the county tax appraisal has very little correlation to a bank appraisal evaluation. I experienced that first hand with a recent refinance with Chase Bank of my home. In the fortunately hot housing market of Seattle, the valuations are raising so fast that the county's annual tax appraisals always trail the actual valuations, typically by 10-20%. Manhattan is high priced real estate so one can assume that they have similar challenge. In Trump's case, he was appealing the tax appraisal to lower his tax burden yet reportedly playing up the value to the bank. If the accusations are proven in court, that is fraud. At Trump's level of valuations it's fraud in the million$$.

 

[Garmel]

In Washington the county tax appraisal has very little correlation to a bank appraisal evaluation. I experienced that first hand with a recent refinance with Chase Bank of my home. In the fortunately hot housing market of Seattle, the valuations are raising so fast that the county's annual tax appraisals always trail the actual valuations, typically by 10-20%. Manhattan is high priced real estate so one can assume that they have similar challenge. In Trump's case, he was appealing the tax appraisal to lower his tax burden yet reportedly playing up the value to the bank. If the accusations are proven in court, that is fraud. At Trump's level of valuations it's fraud in the million$$.

How does the bank not know the true value of the property? I'm not seeing how this would work. If Trump is undervaluing his property the bank can see that easily and not accept his appraisal of it. Any research by the bank will show Trump is trying to fraud the bank. Are these banks just incompetent?

 

[iatrogenic]

In Washington the county tax appraisal has very little correlation to a bank appraisal evaluation. I experienced that first hand with a recent refinance with Chase Bank of my home. In the fortunately hot housing market of Seattle, the valuations are raising so fast that the county's annual tax appraisals always trail the actual valuations, typically by 10-20%. Manhattan is high priced real estate so one can assume that they have similar challenge. In Trump's case, he was appealing the tax appraisal to lower his tax burden yet reportedly playing up the value to the bank. If the accusations are proven in court, that is fraud. At Trump's level of valuations it's fraud in the million$$.

No, it's not fraud. Property values on tax rolls and appraised value differ all the time. If Trump can sell the value to the bank at one price, and to the tax appraiser at another, that is smart. He's dealing with adults. Let them adult. They certainly need to with Trump.

 

[iatrogenic]

True. The bank does deserve what it gets. But I would imagine they do get appraisals on the actual property they are taking as collateral but for an investor who is using his "portfolio" as additional justification, you aren't going to appraise everything in the portfolio. It could still however impact the lending decision quite a bit.

The bank deserves to take the hit But so should Trump if he understates for tax reasons and then overstates for borrowing reasons. That is called Fraud.

It's not up to Trump to do the work for the bank or the appraiser. That is their responsibility. What fool would run around lending money on real estate for which they don't know the value?

 

[AC]

True. The bank does deserve what it gets. But I would imagine they do get appraisals on the actual property they are taking as collateral but for an investor who is using his "portfolio" as additional justification, you aren't going to appraise everything in the portfolio. It could still however impact the lending decision quite a bit.

The bank deserves to take the hit But so should Trump if he understates for tax reasons and then overstates for borrowing reasons. That is called Fraud.

I heard on talk radio that all Trump did was use the lowest valuation he could for tax properties like any tax savvy business owner would. I have complicated taxes and I work hard to keep cap gains taxes down and property taxes as well. As far as I know that is all Trump did. Don’t recall which talk radio host I heard that on. Probably Clay and Buck SHOW.

 

[OUBubba]

Yes, it could be a "might". Mazar could very well have been pressured into saying that. The timing was strange coming shortly after the Durham announcement. Also, the weasel words Mazar was using was strange too as if they were not committed completely into what they were implying.

Not every president had to deal with the modern left going after their people like this either and many of those cases were simply eye-rolling. As bystander said "The clear bias and political corruption from the left is AT LEAST as bad as anything you believe Trump to have done." is absolutely true.

I think they are realizing they may have some liability if someone shows they knowingly facilitated fraud, or did not do the right due diligence.

 

[OUBubba]

I heard on talk radio that all Trump did was use the lowest valuation he could for tax properties like any tax savvy business owner would. I have complicated taxes and I work hard to keep cap gains taxes down and property taxes as well. As far as I know that is all Trump did. Don’t recall which talk radio host I heard that on. Probably Clay and Buck SHOW.

I think the issue is he placed the value at higher levels and lower levels depending on which way it benefited. If he signed paperwork it could be fraud.

 

[OUBubba]

I heard on talk radio that all Trump did was use the lowest valuation he could for tax properties like any tax savvy business owner would. I have complicated taxes and I work hard to keep cap gains taxes down and property taxes as well. As far as I know that is all Trump did. Don’t recall which talk radio host I heard that on. Probably Clay and Buck SHOW.

New York prosecutors are investigating whether the Trump Organization broke the law by offering dramatically different valuations of the same properties

A difference of 30 times. Lol

 

[horninchicago]

Putin made him do it....

 

[OUBubba]

Putin made him do it....

Killary did it and the broke the blackberry with her hammer.

 

[iatrogenic]

New York prosecutors are investigating whether the Trump Organization broke the law by offering dramatically different valuations of the same properties

A difference of 30 times. Lol

Should have done 60x or 100x. It's all legal.

 

[Garmel]

The kicker is all of this hoopla is over four properties, albeit millions of dollars are involved.

 

[Horn6721]

Garm
They have to take Anything they think they can exploit.

 

[horninchicago]

Any fake scandal to try to detract from the Biden **** Show, sorry @mchammer. The Dem playbook for the last 5-6 years.

 

[nashhorn]

Well darn, guess I’m now guilty of fraud cause I use every scheme I can to get my property value down for the tax appraiser and then turn around and try to get the highest possible value for bank’s loan approval to the buyer. Bad me.

 

[humahuma]

I try to keep my property tax as low as possible, but when I sell I value my property way over the tax value. Take me to jail.

 

[Sangre Naranjada]

Killary did it and the broke the blackberry with her hammer.

That is simply untrue. She broke her blackberry by flinging it at Slick Willie's skull when he returned home from yet another "vacation" with Epstein and Maxwell.

 

[OUBubba]

I try to keep my property tax as low as possible, but when I sell I value my property way over the tax value. Take me to jail.

I think that is significantly different than if you valued your property at $30,000,000 as loan collateral and it turns out you value it for taxes at 1,000,000. And I would expect you had signed some documents with language akin to perjury. Let’s see what a jury says.

 

[iatrogenic]

I think that is significantly different than if you valued your property at $30,000,000 as loan collateral and it turns out you value it for taxes at 1,000,000. And I would expect you had signed some documents with language akin to perjury. Let’s see what a jury says.

Gomer, people don't value their own property for tax purposes. The appraiser does. You can fight the value.

I've never seen a bank lend on commercial real estate without having an appraisal, unless the property is new and they know the construction value.

This is a big nothing burger just like every other pile of crap the Dems make up to smear Trump. Just add it to the ever growing pile of falsehoods, or start another impeachment.

 

[horninchicago]

Keep it up Dem Party. Too stupid to figure out this crap just fires up the base to vote those ******** out.

I love it.

 

[Horn2RunAgain]

Gomer, people don't value their own property for tax purposes. The appraiser does. You can fight the value.

I've never seen a bank lend on commercial real estate without having an appraisal, unless the property is new and they know the construction value.

.

The above will fly over bubba's head. Sad but true.

 

[Garmel]

Gomer, people don't value their own property for tax purposes. The appraiser does. You can fight the value.

I've never seen a bank lend on commercial real estate without having an appraisal, unless the property is new and they know the construction value.

This is a big nothing burger just like every other pile of crap the Dems make up to smear Trump. Just add it to the ever growing pile of falsehoods, or start another impeachment.

Yep. As I said earlier the banks will go look at the appraised value from the county/city as well because it's all public info.

I have people who call me asking if I want to sell a certain property and they always bring up what the appraised value is from the county because they looked it up themselves.

 

[humahuma]

Yep, I have people calling me to buy my Austin property, and they look at the appraised value from the county.

Maybe you can just call your property value in ok, I mean at one time they were giving land away.

 

[lkainer]

Not if you have four solid years of a coordinated attack on the senses of human beings listening to all of this.

CNN was actually comparing Trump to Adolph Hitler and Stalin...

 

[Garmel]

Yes, it could be a "might". Mazar could very well have been pressured into saying that. The timing was strange coming shortly after the Durham announcement. Also, the weasel words Mazar was using was strange too as if they were not committed completely into what they were implying.

As I said here it wouldn't surprise if this was true, especially with the way Mazar was sounding.