re: #130 lawhawk

It’s not surprising that Trump’s claiming that his $50 million golf course is worth only $1.35 million. It’s all relative to him. He doesn’t care about anything other than profit to him, and he’s staked out a position to force the town into reducing their assessment on his property.

There’s absurd, and then there’s seriously absurd. That’s where Trump goes. We see it time and again.

$50 million v. $1.35 million, in the hopes of getting the town to come down significantly on his assessment. I’m curious what he’s using as comps in Ossining to get that valuation. Because a golf course is significant acreage, and there aren’t that many parcels with similar qualities.

According to the article, he paid $8M for the parcel at a foreclosure sale and spent $45M on construction. The only way it’s worth $1.35M is if he immediately mortgaged it to the hilt and removed that money. Which I’d have no trouble believing.

Just like his purchase of the West Side Railyards… he paid $100M, bragged in his book that it was really worth ten times that, then tried to declare it as $50M for tax valuation. The City walked into court with just a copy of his book for evidence. The judge laughed, and assessed the parcel at the value he’d said.