The appraisal, accomplished by Cushman & Wakefield, an organization with ties to Trump together with places of work in one among his buildings, assessed the property’s worth based mostly on the concept that it might be divided into 24 parcels promoting at $2.1 million apiece, with the worth of the preserved land being zero. This ignored the truth that Trump had repeatedly tried and didn’t develop the property, calling into query the potential of dividing it and promoting it, not to mention at that worth. And Cushman & Wakefield confronted strain from a Trump lawyer, Sheri Dillon, because the agency labored on the appraisal. Dillon was “trying to convince us to restore” that $2.1 million per parcel valuation, one appraiser wrote in an e mail on the time.
“This is not a good appraisal, and it’s misleading, and it’s thin as all get out,” one impartial appraiser instructed the Post. “What you get is appraised values for these 24 hypothetical lots that appear to be much higher than they ought to be.” Another skilled did name the Cushman & Wakefield appraisal “competent.” But “The theme throughout this appraisal is: There is very little actual work done to collect data and analyze specific data,” nonetheless one other stated. “It’s a lot of arm-waving and reference to national surveys.”
So, sure, Trump deserved some type of tax break for the conservation easement. But $21 million appears like a biiiiig stretch. At different instances, Trump has additionally saved on taxes on the property by claiming it as an funding property, even supposing the Trump Organization web site describes it as “a retreat for the Trump family.”
Trump made a foul funding. Bought a property that he thought he may develop and he couldn’t. But what he did then was to press for and take greater than he deserved even below tax guidelines which are extraordinarily forgiving to individuals like him. Now, Tish James is coming for him, which must be a daunting prospect. I can’t look forward to the result.