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George Takei :verified: 🏳️‍🌈🖖🏽

Trump claims that his Mar-a-Lago estate is worth (checks notes) $1.5 billion. Okay, then. Shouldn’t property taxes be assessed based on that valuation? Just asking.

@georgetakei It's a classic case of Schrödinger's real estate.

@georgetakei

Property assessment value is often less than the appraised value [which relies more heavily on marketability]. However, when there is a huge discrepancy, the assessed value will be reviewed and changed.

@beladona @georgetakei And somehow it's always the really expensive properties owned by very rich people that show those huge discrepancies. The county assessor values my house at exactly what Zillow does, so I'm paying taxes on every bit of market value. But to pick a random $20.5M estate near me, it's taxed at $15M. Funny, that.

@georgetakei An owner's opinion of property value is evidence of property value, but the standard to determine FMV is usually fair market value.

@georgetakei I remember when Council Tax was introduced as a new property tax in England, and one of the issues was who would do the valuations. Someone suggested that people should declare their own property value - but that the council would then have the option to buy the property at the declared value!

@georgetakei I have been there. Its pretty much a white elephant. The land has value but the rest is a smelly tear down.

@georgetakei no. That's not how property taxes work. However, it is the basis for a request that the state redo his valuation, if Florida allows that.

@georgetakei Areyou sure it is not 1.5 billions and billions and billions of dollars ?

Am not American, and I don't live there, but each time I heard Donald Trump talking money or numbers, it is either: Millions and Millions and Millions, or Billions and Billions and Billions

In Spanish also they double the letters with which they struggle with, they say EEUU for Ehestados Uhunidos

I think you should double-fact-check if it is not worht $1.5 billion billion billion.

Or maybe it is in Dollars Dollars. Who know...

@georgetakei thats part of the fraud case. He was using juiced up numbers for his benefit and then doing things to lower his state assessed values to save on taxes.

@georgetakei

Pretty standard for the wealthy and corporate: everything is worth billions to investors and shareholders but only pennies to tax collectors and ex-wives.

@georgetakei In Heinlein's Number Of The Beast, the characters travel to another dimension. In that dimension, this is how property tax works:

You set the value. Anyone can purchase your home at that price at any time. You have two possible responses.

One: Pack up and get out. Your house just sold.

Two: Raise the price until they go away. You now owe back taxes based on the new valuation.

All this is to say, should Trump pay property tax based on his valuation? Yes. With back taxes and penalties for his past tax avoidance.

@georgetakei It's weird though because every house I've owned was "worth" more than the assessed value by Uncle Sam by quite a measure. Banks themselves will assess a home at considerably more than IRS says and nobody is bothered by this. Now, when I sell my home there's capital gains that you have to pay based on buy/sell values. Most people don't make enough profit but if Trump sold his place for as much as he claims, I would expect he would. Nobody pays property taxes on market value.

@georgetakei One thing I know in this world is that a dishonest man is an incredibly weak one. It takes the barest hint of courage to be honest. It shows how weak trump is, that he can't embrace facts about how much he really is worth. He is also a rabidly jealous person, to boot. :3

@georgetakei We have now seen pictures of that place. It looks like garbage not 1.5B.

@georgetakei The property is deed restricted to disallow it being used as a residence or being developed for use as anything besides a club. This greatly reduces its value relative to other comparable properties in the area, none of which have sold for even $100M. He exaggerated its value to get loans, which is exactly what he's being accused of.

@georgetakei Well, Trump math says you always drop 3 zeros for tax purposes, so only $1.5 million.

Weird how he always just throws numbers out there but never says, “Has been appraised at…”

@georgetakei Maybe someone could make a public records request from the Assessors office to find what the property is really valued at? And if he's paying his property taxes?

@georgetakei

Please George, that the Trump Organization has committed fraud has already been decided by the judge.

@georgetakei
Didn't tell anyone to Trump that he never needs to monetize so much, as the jail time is not charged?