Donald Trump just took a major hit in the New York fraud case.
Trump’s tax broker admitted that the local accessor valued Mar-a-Lago at just under $27 million.
While they were initially going to appeal the valuation, they dropped the appeal, signaling that they agreed with the assessment.
Stunning Turn of Events
Trump tax representative Michael Corbiciero was being grilled by prosecutor Andrew Amer.
Amer asked, “Was it your understanding that the appeal was withdrawn because the Trump Organization agreed with the value of the property assessor?”
Flores answered, “Yes.”
With that one-word answer, Trump’s case may have just been lost.
Now, that does not mean that Trump cannot win this case on appeal.
The fact of the matter is that assessment is bogus.
Just go look at properties in Palm Beach County to see what they are going for.
There are properties of less than 10,000 square feet going for almost $60 million.
In case you are not aware, Trump’s Mar-a-Lago is over 60,000 square feet, plus the relationships it has with the local golf club, not to mention the banquet space.
Taking all that into account, $27 million makes absolutely no sense at all.
Source: New York Post