There is a controversy right now on Mar-a-Lago. It is a resort and National Historic Landmark in Palm Beach, Florida, owned since 1985 by Donald Trump.
Letitia James, the attorney general of New York said that Trump overvalued several properties including Mar-a-Lago in financial documents he sent to banks and other people. Below you will get all the details related to it.
Mar-a-Lago’s Value in Dispute: Trump’s Defense and Critics’ Laughter
Donald Trump’s Mar-a-Lago valuation has been a source of controversy after a New York judge determined that the former president overstated the value of the Florida property when he estimated it is worth at least $420 million and possibly $1.5 billion.
Judge Arthur Engoron agreed with the New York attorney general that Trump had regularly overstated the value of Mar-a-Lago in a case where the prosecutor accused him of excessively overvaluing his assets.
He pointed out that one Trump assessment of the club’s value was 2,300% greater than the range of valuations from $18 million to $37 million provided by the Palm Beach County tax appraiser.
However, high-end real estate agents in Palm Beach laughed off the notion that the estate might only be worth that little in the unlikely event that Trump ever sold.
Agent Liza Pulitzer called the judge’s use of the county’s tax appraisal as a standard “ludicrous.” In the Town of Palm Beach, an affluent island community houses just one-tenth the size of Mar-a-Lago are sold for that amount.
Pulitzer, who works for the firm Brown Harris Stevens said:
“The entire real estate community felt it was a joke when they saw that figure.
Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member said:
“That thing would get snapped up for hundreds and hundreds of millions of dollars, There is zero chance that it’s going to sell for $40 million or $50 million.”
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What Did Donald Trump Say About Mar-a-Lago?
On October 3, 2023, Donald Trump claimed that a dishonest and incompetent Attorney General had given Judge Engoron false and misleading information about his net worth such as Mar-a-Lago’s value being $18,000,000 when it would actually be closer to 1.5 Billion Dollars, like other properties, including two that had recently been sold for sums that were many times higher than those that were stated in the financial statements.
As a result, the New York State Attorney General engaged in FRAUD with the intent to interfere with politics and elections. Therefore, this lawsuit ought to be rejected!
Judge Engoron has been given false and grossly misleading information about my Net Worth by a lying and incompetent Attorney General, such as Mar-a-Lago being worth $18,000,000 when in fact the number would be much closer to 1.5 Billion Dollars, like other properties, including…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) October 3, 2023
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