The New York City Mayor de Blasio Administration has Referred Findings from a Review of the Trump Organization's Property Tax Filings to the Manhattan District Attorney's Office.
In October 2019, WNYC and ProPublica, Reported that President Trump's Business Portfolio cited Lower Income from One of its Properties, 40 Wall Street, in an Appeal of its Property Tax Assessment, but Reported Higher Values on a Loan Document for the Building, and when speaking with investors.
WNYC's Ilya Marritz followed up with the Mayor during a Radio appearance Friday, inquiring if the City had looked into the Discrepancies.
"It was looked at, and one of the specific issues within your story — or ProPublica story originally — was referred to the district attorney because there is the possibility of a criminal act having been committed," de Blasio said.
The Desire to Shrink Property Taxes has spawned a Cottage Industry in New York. Each year, Landlords Big and Small hire Tax Certiorari Firms to Contest Assessments from the Finance Department in an attempt to Revise them Downward. However, WNYC cited Experts in its Report that said the Discrepancies in the Trump Organization's Reported Income may rise to the Level of Fraud, Marritz said.
In this Case, the Trump Organization filed an Appeal with the City’s Tax Commission, which handles Challenges to Property Tax Assessments made by the Department of Finance.
ProPublica reviewed the contents of that Appeal and compared it to a Loan Document that also included Information about 40 Wall Street’s Finances.
“ProPublica and WNYC’s investigation raised questions about what was reported to the Tax Commission versus bank lenders,” Mayoral spokesperson Laura Feyer said in a Statement.
“The Manhattan [district attorney] is the proper jurisdiction to investigate these claims, as the city can only review what is directly reported to us. The [district attorney] has the jurisdiction to take appropriate steps if they find wrongdoing.”
Since becoming President, Trump’s Companies have filed no fewer than Nine Lawsuits against Municipalities in: Florida, Illinois, and New York, ProPublica Reports.
An example is in Ossining, New York, involving the Valuation of Trump National Westchester Golf Club. Trump bought the Course more than 20 years ago for $7.5 Million and spent $40 Million for Renovations. According to Presidential Financial Disclosures, the Property is worth $50 Million. Ossining Assesses the Property at $15 Million. In 2015, the Trump Organization Asserted the Value of the Property to be $1.4 Million in a Lawsuit filed in Westchester County Court. Rather than Settle, Public Outcry persuaded the Town to take the Unusual, and Expensive, Route of going to Court over the matter.
Another example is in Cook County, Illinois, where the Trump Organization is Asserting in Court that the Trump International Hotel and Tower Chicago is a “failed business,” and the Riverfront Retail Space is Worthless. Trump routinely takes Cook County to Court over the Building and has since 2001. Currently, there are Five Local Open Cases filed on behalf of the Trump Organization, all Regarding Trump Tower Chicago.
In Jupiter, Florida, near Mar-a-Lago, the Trump Organization is Suing the Palm Beach County Tax Assessor over its Bill for the Trump National Golf Course Palm Beach. According to Trump, the current $19.5 Million Assessment "exceeds the market value" for the Course.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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