New York prosecutors eye Trump Organization property valuations: report
By Mychael Schnell - 11/22/21 12:29 PM EST
New York prosecutors are reportedly looking into the Trump Organization’s property valuations after discovering that the company provided different estimates on a number of properties.
The Washington Post reported on Monday, citing public records and people familiar with the matter, that the New York attorney general's office and Manhattan district attorney are examining the Trump Organization’s valuations of different properties across the country after discovering that the estimates differed depending on who was requesting the information.
In 2012, the Trump Organization said its office building at 40 Wall Street in Manhattan was worth $527 million, according to the Post, which would rank it as one of the most valuable properties in New York. A few months later, however, the company told property tax officials that the building was actually worth $16.7 million, according to city records cited by the Post.
That building and others are now being scrutinized by the New York attorney general and the Manhattan district attorney, the newspaper reported. They are reportedly looking to see if the company violated the law by telling property tax officers that their properties were worth less than they were or by using higher valuations in an effort to get tax breaks or impress lenders.
The Post reported that prosecutors are specifically looking into former President Trump’s golf club in California, noting the land was valued at $900,000 in one setting and $25 million in another. A property in suburban New York, which has valuations from $56 million to $291 million, is also being scrutinized, according to the Post.
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https://thehill.com/homenews/state-watch/582633-new-york-prosecutors-eye-trump-organization-property-valuations-report
