Rep. Jared Moskowitz (D-FL) is asking Palm Beach County to tax Donald Trump’s Mar-a-Lago property at the rate the former president claims it is worth amid his ongoing civil fraud trial in New York, NBC News reports.
Wrote Moskowitz: “Between 2011 and 2021, you value the Mar-a-Lago property between $18 million and $28 million. Mar-a-Lago was listed as worth $490 million in financial documents given to banks. If the property value of Mar-a-Lago is so much higher than it was appraised, will you be amending the property value in line with the Trump family’s belief that the property is worth well over a billion dollars?”
Florida resident here: The Save Our Homes amendment prevents property tax from increasing more than 3% per year for homesteaded properties (and I’m sure Trump filed for that tax break as soon as he qualified for it). Trump might be shielded from paying taxes on the full claimed value, but only on the part that he calls home.
Florida resident here, Trump didn’t live on the property between 2011-2019. He should be liable for the increase.
It won’t save him much, that’s for sure. Florida’s homestead exemption knocks $25k off the assessed value (and no school taxes on the next $25k, or something like that). For me it’s a lot of money. For Mar-a-Lago it’s a rounding error.
Ah yes, the $450 million homestead!
Joking aside, cool info thx.