Trump National's 2024 FA-1 farm assessment application, obtained from the Bedminster tax assessor, lists 320 acres taxed as standard commercial property, including its golf courses. It also includes 183 acres that are treated as farmland: 113 acres on which the club says it grows hay and another 70 counted as protected woodlands or wetlands, according to the form.
Trump National — referred to on the application as the Lamington Farm Club LLC — also claims a herd of 12 goats as part of its agricultural operations.
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The club's 2024 property tax bill comes to $450,000 for its 320 conventionally taxed acres — a rate of $1,406 per acre — and $1,168 for its farmland, or just $6.38 an acre.
That's a saving of almost $257,000, Curtis calculates. "Donald Trump charges a $350,000 membership fee to anyone who wants to join his club," he said. "I hardly believe that Mr. Trump needs a 98% tax reduction when one new membership would more than pay for the taxes he is avoiding."
https://golfweek-eu.usatoday.com/story/sports/golf/2024/08/21/trump-national-golf-club-saves-257k-a-year-through-a-tax-break-by-claiming-to-have-12-goats/74893440007/Or giving two wildly different valuations for your tax assessment, and for the valuation that gets banks to lend you money.
Trump ordered to pay $355m to New York for lying to banks
Former President Donald Trump must pay nearly $355m (£281m) to New York state for lying about the values of his properties, a judge has ruled.
Judge Arthur Engoron also banned him from serving as a company director or taking out loans from banks in the state for three years.
The New York real estate mogul escaped having some of his companies dissolved, which could have meant bankruptcy.
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In her civil case, New York Attorney General Letitia James, a Democrat, had accused all four defendants and the wider Trump Organization of massively inflating property values and lying on financial statements so they could borrow large sums of money at favourable interest rates. She had asked for a fine of $370m.
https://www.bbc.co.uk/news/world-us-canada-68320290Trump still hasn't paid up, of course:
https://www.cbsnews.com/news/trump-new-york-fraud-case-502-million-inauguration/
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