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EarlG

(21,896 posts)
Wed May 18, 2016, 12:23 PM May 2016

Pic Of The Moment: Trump Golf Course Mysteriously Loses 95% Of Its Value



The Only Time Donald Trump Undersells: Tax Time


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Pic Of The Moment: Trump Golf Course Mysteriously Loses 95% Of Its Value (Original Post) EarlG May 2016 OP
His supporters will EAT this shit up. They hate our government and they hate Jackie Wilson Said May 2016 #1
100% Saviolo May 2016 #3
SPOT ON Cosmocat May 2016 #5
Case in point: Saviolo May 2016 #7
Then, one day, they'll wake up and wonder how and why their town became a shit hole. TheBlackAdder May 2016 #12
like the rest of America under their rule. nt silvershadow May 2016 #39
He has stated that he tries to pay the littlest amount of taxes yeoman6987 May 2016 #26
Some really admire him, yes. Jackie Wilson Said May 2016 #27
Probably 45 percent in the U.S. yeoman6987 May 2016 #29
Even some right here on this message board. Jackie Wilson Said May 2016 #30
Who knows. I don't pay attention as much. yeoman6987 May 2016 #31
You noticed. Kingofalldems May 2016 #32
Has the PGA discovered that most people can't afford golf? Cyrano May 2016 #2
The number of golfers has been decreasing for several years - directly tied bullwinkle428 May 2016 #10
Wanna see sign of declining middle class? Tune in any weekend to Jackie Wilson Said May 2016 #14
The declining middle class, while a factor, isn't the biggest problem NASCAR has jmowreader May 2016 #18
Maybe it's just an overabundance of these cheap trash golf courses? keithbvadu2 May 2016 #19
Nice strategy! yellerpup May 2016 #40
GOP/Trump base don't care. They vote for 1% because they are sure they'll be 1% any day now. Bernardo de La Paz May 2016 #15
There goes the neighborhood! Fritz Walter May 2016 #4
CNBC article July 2015 - direct quotes from golf valuing experts - VASTLY OVERVALUED underpants May 2016 #6
I calculated yesterday NewJeffCT May 2016 #8
Leadership: One percent style Jack Rabbit May 2016 #9
My property taxes are based on an SEV cutroot May 2016 #11
My NJ town changed over to 100% market value a few years ago. TheBlackAdder May 2016 #13
If you have a good lawyer and a good appraiser... Else You Are Mad May 2016 #21
Besides the tax issue, what kind of smart businessman buys a property for $8 mil, spends $45 mil to 2cannan May 2016 #16
The thing that burns me up is that the tax dollars TexasBushwhacker May 2016 #17
Just reading this piece made me think----------------- turbinetree May 2016 #20
Has he ever taken a basic accounting class? Initech May 2016 #22
no. Just Advanced Lying & Cheating 201. nt TeamPooka May 2016 #35
By golly... czarjak May 2016 #23
When someone screams, "I am so RICH!!!!!" you know japple May 2016 #24
Trumpie claims he will make us (US) great again Angry Dragon May 2016 #25
Ossining? Hmm...Sing Sing? trof May 2016 #28
Um, doesn't the taxing authority say how much it's worth??? Roland99 May 2016 #33
This is why Trump needs to go to REAL billionaires now for money to fund campaign. nt TeamPooka May 2016 #34
Thieving grifter! Pick poscketing putz asshat. lonestarnot May 2016 #36
Golf courses according to George Carlin Feeling the Bern May 2016 #37
It occurs to no one that Mr Trump is just running his mouth? malthaussen May 2016 #38

Jackie Wilson Said

(4,176 posts)
1. His supporters will EAT this shit up. They hate our government and they hate
Wed May 18, 2016, 12:27 PM
May 2016

when taxes are paid to support our government.

The reason they hate our government is in their tiny, fucked up heads only POC get benefits from the government.

The conservative electorate is the problem.

Saviolo

(3,270 posts)
3. 100%
Wed May 18, 2016, 12:48 PM
May 2016

This will not hurt his numbers on the right. It will show him as a savvy taxpayer who leverages his deductions to save himself money, and demonstrating the holes in the tax code that they want eliminated, anyway. This might even draw libertarian voters who don't care about how personally odious Trump is, but think he's going to repeal taxes and then everyone can just go Galt.

Ugh.

I'm in Canada, and I'm getting physically ill watching this long, drawn-out campaign for this election. Our 11-week campaign last year seemed to go on forever for us, but the shit the US electorate goes through. And no one takes more of a beating that rational thought.

Cosmocat

(14,544 posts)
5. SPOT ON
Wed May 18, 2016, 01:28 PM
May 2016

Statement here ...

"And no one takes more of a beating that rational thought."

And, this has only gotten progressively worse during the last quarter century.

Saviolo

(3,270 posts)
7. Case in point:
Wed May 18, 2016, 01:47 PM
May 2016

My typo in that sentence!

Should "And no one takes more of a beating THAN rational thought."

 

yeoman6987

(14,449 posts)
26. He has stated that he tries to pay the littlest amount of taxes
Wed May 18, 2016, 05:38 PM
May 2016

he can. Well known by all. How Hillary uses that is up to her.

 

yeoman6987

(14,449 posts)
31. Who knows. I don't pay attention as much.
Wed May 18, 2016, 07:38 PM
May 2016

I read the articles of various topics mostly and then honestly give reality.

Cyrano

(15,023 posts)
2. Has the PGA discovered that most people can't afford golf?
Wed May 18, 2016, 12:36 PM
May 2016

Regardless of whether you like the game or not, I'd love to see a survey of the average income of regular golfers.

bullwinkle428

(20,627 posts)
10. The number of golfers has been decreasing for several years - directly tied
Wed May 18, 2016, 02:07 PM
May 2016

into the declining middle class (which is confirmed in the linked Forbes article). IOW, Bernie Sanders is spot-on!

I've been playing the game since I was a kid back in the late 1970s, and have actually noticed the declining numbers at the public courses I play.

http://www.forbes.com/sites/bobcook/2014/05/23/how-a-declining-middle-class-is-killing-golf/#69abde3f524f

Jackie Wilson Said

(4,176 posts)
14. Wanna see sign of declining middle class? Tune in any weekend to
Wed May 18, 2016, 02:29 PM
May 2016

NASCAR

Those stands at every race used to be jammed, not anymore.

jmowreader

(50,456 posts)
18. The declining middle class, while a factor, isn't the biggest problem NASCAR has
Wed May 18, 2016, 03:49 PM
May 2016

NASCAR isn't baseball, or even football: No one goes to all the races in a season. NASCAR has always been a vacation-destination sport: you save up your money all year, but instead of going to the tropics you go to Talladega, Alabama, and do race weekend.

The biggest problem NASCAR has is NASCAR. They have spent billions of dollars to create a sport where no one could possibly get killed and every car is absolutely equal. And they've done so well at meeting both goals the shit's no fun anymore.

keithbvadu2

(36,376 posts)
19. Maybe it's just an overabundance of these cheap trash golf courses?
Wed May 18, 2016, 04:14 PM
May 2016

A few years ago there was an eminent domain case where the city condemned the land so rich developers could build more expensive projects which would benefit the community more.

Condemn this golf course and pay him the value he assigns to it.

Maybe even give him a 5% bonus/premium so he won't fight it.

yellerpup

(12,249 posts)
40. Nice strategy!
Thu May 19, 2016, 11:20 AM
May 2016
This is a local story for us and The Donald is how we have referred to him for decades (as in, what's The Donald flacking now? Who did The Donald screw last week?). Your idea sounds like justice to me.

Bernardo de La Paz

(48,795 posts)
15. GOP/Trump base don't care. They vote for 1% because they are sure they'll be 1% any day now.
Wed May 18, 2016, 02:31 PM
May 2016

After all, it is only the gubmnt holding them back, right?

No lack of self-esteem among felony prisoners and GOP base.

Fritz Walter

(4,281 posts)
4. There goes the neighborhood!
Wed May 18, 2016, 01:03 PM
May 2016

Go to Google map and search for this piece of real estate. Then zoom back a bit. There's another piece of property due west a few blocks: Sing Sing Correctional Facility. To me, that's a more suitable location for Drumpf and his ilk.

NewJeffCT

(56,827 posts)
8. I calculated yesterday
Wed May 18, 2016, 02:03 PM
May 2016

when I saw this on Facebook. The difference between $50,000,000 and $1,350,000 that Trump claims means the town of Ossining is losing around $1 million/year in property taxes if it's really worth $50,000,000. Google says the tax rate there is $19.76 for every $1,000 of value.

So, $19.76 x (1,350,000/1000) = $26,676
Or, $19.76 x (50,000,000/1000) = $988,000

If it's really undervalued, the town is losing about $960,000/year. If Trump has owned it for more than a year, there would be late penalties imposed on top of the $988,000 as well.


cutroot

(869 posts)
11. My property taxes are based on an SEV
Wed May 18, 2016, 02:14 PM
May 2016

State Equalized Value Which is supposed to be about Half of the true market value. It is provided by the state. We don't get to determine it. How does he get to value his own property?

Else You Are Mad

(3,040 posts)
21. If you have a good lawyer and a good appraiser...
Wed May 18, 2016, 04:19 PM
May 2016

You would be surprised how the rich get to overturn property tax evaluations made by municipalities. It also helps if you are a billionaire. These towns don't want to have to deal with the legal costs to fight it through all the appeals process when the other person has unlimited funds to tie the process up for years.

2cannan

(344 posts)
16. Besides the tax issue, what kind of smart businessman buys a property for $8 mil, spends $45 mil to
Wed May 18, 2016, 03:19 PM
May 2016

remodel and enhance it, and then says it's now worth only 1.35 mil. How stupid is that?

From the article:

snip

In Ossining, town officials said they plan to fight Trump’s claim that the posh private golf club is worth only $1.35 million. They said Trump bought the property for $8 million in a foreclosure sale, spent $45 million to build the 18-hole course and 75,000-square-foot clubhouse and received permits to build six hotel suites on the property, with no increase in his tax assessment. In fact, the town assessor said, the club already received a 55 percent reduction, from $38 million to $16 million, in 2008.

TexasBushwhacker

(20,049 posts)
17. The thing that burns me up is that the tax dollars
Wed May 18, 2016, 03:38 PM
May 2016

have to come from somewhere. Fire and police departments have to be paid for. City and county services, schools and libraries have to be paid for. While Trump gets a "Hell yeah" for sticking it to the man and paying lower taxes, small businesses and individual taxpayers get stuck footing the bill because they can't afford lawyers to challenge assessments.

turbinetree

(24,635 posts)
20. Just reading this piece made me think-----------------
Wed May 18, 2016, 04:15 PM
May 2016

if I were to do this with my house------------------------I would have to answer a lot of questions first of all, and then second the state and the feds would have me, wife, and my tax accountant in jail.

And its just quaint how he is using a law on the books called depreciated costs which all oligarchies use , which he has been doing since he got a hold of Grand Central in New York and his "tower", so they don't have to pay the tax, and then its shoved down the other have not people throats , and he walks around and basically flaunts it in everyone's face

trof

(54,255 posts)
28. Ossining? Hmm...Sing Sing?
Wed May 18, 2016, 07:26 PM
May 2016

Sing Sing Correctional Facility is a maximum security prison[2] operated by the New York State Department of Corrections and Community Supervision in the village of Ossining, in the U.S. state of New York. It is located about 30 miles (50 km) north of New York City on the east bank of the Hudson River.

In 1970, the name of the facility was changed to "Ossining Correctional Facility" but, in 1985, it reverted to its original name.[3] "Sing Sing" was derived from the name of a Native American Nation, "Sinck Sinck" (or "Sint Sinck&quot , from whom the land was purchased in 1685.[4]
https://en.wikipedia.org/wiki/Sing_Sing

Roland99

(53,342 posts)
33. Um, doesn't the taxing authority say how much it's worth???
Wed May 18, 2016, 08:25 PM
May 2016

Hell, I'll move there! I'll buy up 100 acres of awesome land and claim it's worth $1,200!

malthaussen

(17,068 posts)
38. It occurs to no one that Mr Trump is just running his mouth?
Thu May 19, 2016, 09:38 AM
May 2016

While I would be astonished if the man is paying all the tax he should on a golf course next to Sing Sing, I am also skeptical that his "50 million" figure reflects anything other than his overblown ego.

-- Mal

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