NY Judge ruled Trump committed fraud

[Belsnickel]

(09-28-2023, 01:42 PM)Mike M (the other one) Wrote: What it's appraised at and could sell for are 2 different things.

What Trump values it is what HE would be willing to sell it for and that is not the same as it's actual appraised value.
If banks gave him loans on HIS valued price then they are ignorant for not doing their jobs properly.

And most properties are updated at sale date and use an effective tax rate that slowly increases, and doesn't usually get fully updated for 3-6 years after.
If they over value it, you can file a "Complaint against Valuation". And definitely don't plan any major upgrades til after it's been valued by an assessor and always walk thru with the assessor, he's paid to see the shiny things IE new marble counter tops, and won't mark the crack in the basement walls that lowers your value unless you are there to point it out.

Eh, no, that's not typically how it works. Most localities have an assessor's office that actually does valuations each year that the property tax is based off of. For business personal property tax, it is based on the current value of the assets in the business which is usually net depreciation.