When is Leticia going after Jon Stewart for fraud?

[Fluffypants]

This too funny. So Jon Stewart gets on his high horse and tells us how Trump committed fraud and deserved his punishment and yet by using the same method that the NY courts did to value Trumps buildings found that ole Jon Stewart overvalued his penthouse by 829%. It was only worth about 1.8 million according to New York and yet he sold it for for 17.5 million dollars and there was a victim because the guy who bought is was only able to sell it for 13 million, a 4 million dollar loss.

 

https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/

I have a feeling now that this is out people are going to be looking at a bunch of people assessed values vs what they sold it for.

Edited March 27 by Fluffypants

[robosmith]

The asking price for a real estate SALE is NOT a statement of valuation for the purposes of getting a loan. Duh

It was the BUYER (if anyone) who applied for a loan on that property.

FALSE EQUIVALENCE

[Fluffypants]

2 minutes ago, robosmith said:

The asking price for a real estate SALE is NOT a statement of valuation for the purposes of getting a loan. Duh

It was the BUYER (if anyone) who applied for a loan on that property.

FALSE EQUIVALENCE

The point is Stewart sold his home under false pretenses. He wasn't being fair to the buyer he sold it for waaaaaaay more than it was worth according to New York. He must of defrauded the buyer obviously because when the buyer went to get the loan he told the bank that he was buying this property for 17 million and the bank was like ok and trusted that it was the value when it wasn't.

So who defrauded the bank? Did the buyer defraud the bank and Stewart defraud the buy?

Edited March 27 by Fluffypants

[robosmith]

Just now, Fluffypants said:

The buyer applied for it based on what Jon Stewart told what he thought it was worth.

You got that on tape, do ya? LMAO

If it's not in writing nor on tape, you got BUPKIS.

YOUR CITE:

Quote

The property’s asking price at that time is not available in listing records.

Not even the asking price backs YOUR LIE.

[Fluffypants]

16 minutes ago, robosmith said:

You got that on tape, do ya? LMAO

If it's not in writing nor on tape, you got BUPKIS.

YOUR CITE:

Not even the asking price backs YOUR LIE.

What lie? Do you really think the guy just walked in and said, I will give you 17 million dollars no questions asked. I bet you anything the asking price was probably 20 million and he sold it for 17 million after haggling.

Shoot lets take some properties in Florida.

Have a property for sale at 78 million, assessed value 36 million is he defrauding people?

 

 

Edited March 27 by Fluffypants

[robosmith]

5 hours ago, Fluffypants said:

What lie? Do you really think the guy just walked in and said, I will give you 17 million dollars no questions asked. I bet you anything the asking price was probably 20 million and he sold it for 17 million after haggling.

Shoot lets take some properties in Florida.

Have a property for sale at 78 million, assessed value 36 million is he defrauding people?

Tax assessor's valuation has little to do with selling price.

Thanks to Prop 13, housing valuations are PURPOSELY divorced from market value here in CA. By LAW they can only increase 1-2%/year.

Thanks for proving you KNOW NOTHING about RE valuations.

Edited March 28 by robosmith

[Fluffypants]

12 minutes ago, robosmith said:

Tax assessor's valuation has little to do with selling price.

Thanks to Prop 13, housing valuations are PURPOSELY divorced from market value. By LAW they can only increase 1-2%/year.

Thanks for proving you KNOW NOTHING about RE valuations.

Wait but those were the valuations they used to value Trumps properties and deem his valuations fraudulent.

Hell I can show you the valuation they used to claim Mara Lago was only worth 18 million.

Edited March 28 by Fluffypants

[WestCanMan]

If he was paying property taxes based on the value of his home being $1.8M, but it was actually worth $17M, then he must have defrauded the state of a lot of tax money.

I'm not sure how it works in NY State, but here in BC your property taxes are calculated as a percentage of your home's assessed value.

https://wowa.ca/taxes/bc-property-tax

If his home was worth $1.8M in Langley his P Tax would be $5,900/yr.

If it was worth $17M then his P Tax would be $55K/yr.

Jonny boy would be guilty of defrauding the gov't $50k/yr here. WHAT A SCOUNDREL! LOCK HIM UP!

[Hodad]

1 hour ago, Fluffypants said:

This too funny. So Jon Stewart gets on his high horse and tells us how Trump committed fraud and deserved his punishment and yet by using the same method that the NY courts did to value Trumps buildings found that ole Jon Stewart overvalued his penthouse by 829%. It was only worth about 1.8 million according to New York and yet he sold it for for 17.5 million dollars and there was a victim because the guy who bought is was only able to sell it for 13 million, a 4 million dollar loss.

 

https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/

I have a feeling now that this is out people are going to be looking at a bunch of people ass🤦‍♂️essed values vs what they sold it for.

He did the same thing as Trump... except he didn't "do" anything and it's in no way the same!🤦‍♂️

 

 

The NY post, America's oldest tabloid, makes it's money selling shit news to people who can't tell the difference. 

No idea if that document is legitimate or not, but in any case, Stewart has no control over the assessed value or the market price. He didn't make up either of them. 

Whereas Trump's lies (fraud) was brazen and blatant. For example, he tripled the size of his penthouse residence on his paperwork. That's indefensible. Fraud by any standard. Trump tried to value a business as if could be sold as a private residence. Indefensible.

Yet one thing we can count on here is Trump cultists eager to defend the indefensible.

 

 

[WestCanMan]

31 minutes ago, Hodad said:

Stewart has no control over the assessed value or the market price.

Who knows... This story is just breaking. Maybe he had a person on the inside undervalue it for him?

Doesn't it seem a little suspicious that he sold his home for ten times its assessed value? How is that possible?

Assessed values obviously aren't to the penny, it's not uncommon for them to be off by as much as 10% here in BC. The market just changes quickly, and a year is a long time in this market. But I can assure you, there are no homes in BC where the assessment is at 10% of a home's real value.  Something is way off there. 

TBH, the most likely scenario is that the document isn't authentic, or there's a typo and the decimal is shifted over. 

If his assessment was really off by that much, something's up. 

[Rebound]

3 hours ago, Fluffypants said:

The point is Stewart sold his home under false pretenses. He wasn't being fair to the buyer he sold it for waaaaaaay more than it was worth according to New York. He must of defrauded the buyer obviously because when the buyer went to get the loan he told the bank that he was buying this property for 17 million and the bank was like ok and trusted that it was the value when it wasn't.

So who defrauded the bank? Did the buyer defraud the bank and Stewart defraud the buy?

New York City real estate values declined in FY 2022. It’s not Stewart’s fault that person who bought his property decided to sell it when the market tanked several years later. https://www.nyc.gov/assets/finance/downloads/pdf/reports/reports-property-tax/nyc_property_fy22.pdf

I can’t believe how dumb Republicans are. 

 

[Fluffypants]

1 hour ago, Hodad said:

 

Whereas Trump's lies (fraud) was brazen and blatant. Trump tried to value a business as if could be sold as a private residence. Indefensible.

 

 

 

Its funny you say that, when CNN was so excited that Trump was going to get his properties confiscated one of their "experts" was saying Tish could sell Mara Lago for 100s of millions easy.

https://www.cnn.com/videos/business/2024/03/19/trump-bond-properties-value-sell-bess-freedman-ebof-vpx.cnn

What is indefensible is the court not getting market value assessments and relying on tax assessments to prove fraud when time and time again it was shown that properties were worth way more than they were assessed for.

[Hodad]

1 hour ago, WestCanMan said:

Who knows... This story is just breaking. Maybe he had a person on the inside undervalue it for him?

Doesn't it seem a little suspicious that he sold his home for ten times its assessed value? How is that possible?

Assessed values obviously aren't to the penny, it's not uncommon for them to be off by as much as 10% here in BC. The market just changes quickly, and a year is a long time in this market. But I can assure you, there are no homes in BC where the assessment is at 10% of a home's real value.  Something is way off there. 

TBH, the most likely scenario is that the document isn't authentic, or there's a typo and the decimal is shifted over. 

If his assessment was really off by that much, something's up. 

It could also be an incomplete incomplete document (sounds like the apartment was a duplex). Or it could be totally legit.

How long did he own the property? What triggers assessments there? How much was it improved? Did the neighborhood gentrify or trend? Are there caps on property tax increases in that area, as in some other places? 

Not really relevant in any case. It's simply not a case similar actions or behaviors. Apples and watermelons. 

And I don't think you have to worry about a guy making $15 million per year (or whatever) committing fraud to save 50k (or whatever). It just doesn't make a difference to that person. I'd be surprised if Stewart even knows what he paid in property taxes. That's a line item for his business manager. 

 

 

Edited March 28 by Hodad

[Fluffypants]

11 minutes ago, Hodad said:

It could also be an incomplete incomplete document (sounds like the apartment was a duplex). Or it could be totally legit.

How long did he own the property? What triggers assessments there? How much was it improved? Did the neighborhood gentrify or trend? Are there caps on property tax increases in that area, as in some other places? 

Not really relevant in any case. It's simply not a case similar actions or behaviors. Apples and watermelons. 

And I didn't think you have to worry about a guy making $15 million per year (or whatever) committing fraud to save 50k (or whatever). It just doesn't make a difference to that person. Is be surprised if Stewart even knows what he paid in property taxes. That's a line item for his business manager. 

 

 

Its actually authentic I found the assessment and it matches exactly was bought for 5.8 million in 2005 it sold for 17.5 million in 2014 then 13 million,  then 15.5 million, then 15.6 million. The damn thing is currently valued at 2.8 million according to the tax assessor.

You all don't get the point at all market value is far different than assessed value. The court used assessed value to prove fraud when only the tax assessor uses assessed value banks use market value and so do insurance companies.

Assessed value is what they use to bill you, you don't assess it and tell them they decide on their own and send you a bill. Different states have different that they follow some only allow a certain % of an increase every year.

I hear California bases the value on what it sells for and it is increased at the rate of cost of living. So if you buy a house in the 80s for 100k your assessed rate will increase by like 2% every year and they base their tax of that and then when you sell it for 1,000,000 in 2020 that is the new assessed value.

Edited March 28 by Fluffypants

[WestCanMan]

38 minutes ago, Hodad said:

It could also be an incomplete incomplete document (sounds like the apartment was a duplex). Or it could be totally legit.

How long did he own the property? What triggers assessments there? How much was it improved? Did the neighborhood gentrify or trend? Are there caps on property tax increases in that area, as in some other places? 

Not really relevant in any case. It's simply not a case similar actions or behaviors. Apples and watermelons. 

And I don't think you have to worry about a guy making $15 million per year (or whatever) committing fraud to save 50k (or whatever). It just doesn't make a difference to that person. I'd be surprised if Stewart even knows what he paid in property taxes. That's a line item for his business manager. 

Nah, Stewart just needs to go to jail. That's fraud. 

What a sick bastard. 

[Hodad]

2 minutes ago, WestCanMan said:

Nah, Stewart just needs to go to jail. That's fraud. 

What a sick bastard. 

No one has said that selling ones property for any particularly amount is fraud. But lying about the value on legal documents certainly is.

I suspect you understand the difference, but will pretend not to.

 

[Rebound]

3 hours ago, WestCanMan said:

If he was paying property taxes based on the value of his home being $1.8M, but it was actually worth $17M, then he must have defrauded the state of a lot of tax money.

I'm not sure how it works in NY State, but here in BC your property taxes are calculated as a percentage of your home's assessed value.

https://wowa.ca/taxes/bc-property-tax

If his home was worth $1.8M in Langley his P Tax would be $5,900/yr.

If it was worth $17M then his P Tax would be $55K/yr.

Jonny boy would be guilty of defrauding the gov't $50k/yr here. WHAT A SCOUNDREL! LOCK HIM UP!

You are absolutely correct — IF Stewart provided any fraudulent information to the assessor which caused him or her to undervalue the property. Is that the case? 

[Fluffypants]

14 minutes ago, Rebound said:

You are absolutely correct — IF Stewart provided any fraudulent information to the assessor which caused him or her to undervalue the property. Is that the case? 

Do any of you own homes in the US?

[Rebound]

8 minutes ago, Fluffypants said:

Do any of you own homes in the US?

Yes, several. The assessor has always come up with a value without any input from me, except once, after I pulled a permit to make an addition, my assessed value went up. We had one home that deeded 2/3 of the acreage as scenic view shed in order to get a building permit, but I never had a property deed restricted to cut my assessed value.  

[Hodad]

34 minutes ago, Fluffypants said:

Do any of you own homes in the US?

Yep. Processes vary from city to city, but like Rebound I have no contact with the assessor or input into the assessment. 

[robosmith]

1 hour ago, WestCanMan said:

Nah, Stewart just needs to go to jail. That's fraud. 

What a sick bastard. 

Of course, we KNOW that you have NO LAW degree, AND no EXPERIENCE practicing law in NY, so AS USUAL, ^this is just BULLSHIT.

[Rebound]

1 hour ago, WestCanMan said:

Nah, Stewart just needs to go to jail. That's fraud. 

What a sick bastard. 

You are a troll. 

[Deluge]

14 hours ago, robosmith said:

The asking price for a real estate SALE is NOT a statement of valuation for the purposes of getting a loan. Duh

It was the BUYER (if anyone) who applied for a loan on that property.

FALSE EQUIVALENCE

Stewart still overvalued his property which means he's a piece of shit liar. 

What's so laughable with you cultists is that fat ass decided that the banks were too stupid to do their own due diligence with Trump, so she declared them victims even though they transacted with him and still made money. lol

Edited March 28 by Deluge

[Aristides]

14 hours ago, WestCanMan said:

If he was paying property taxes based on the value of his home being $1.8M, but it was actually worth $17M, then he must have defrauded the state of a lot of tax money.

I'm not sure how it works in NY State, but here in BC your property taxes are calculated as a percentage of your home's assessed value.

https://wowa.ca/taxes/bc-property-tax

If his home was worth $1.8M in Langley his P Tax would be $5,900/yr.

If it was worth $17M then his P Tax would be $55K/yr.

Jonny boy would be guilty of defrauding the gov't $50k/yr here. WHAT A SCOUNDREL! LOCK HIM UP!

In BC property tax assessments are based on the previous years sales of like properties in that neighbourhood and square footage. Owners have nothing to do with assessed values.

Trumps fraud was that he inflated values to get loans. Where did Stewart do that?

Edited March 28 by Aristides

[Rebound]

11 hours ago, Fluffypants said:

Its actually authentic I found the assessment and it matches exactly was bought for 5.8 million in 2005 it sold for 17.5 million in 2014 then 13 million,  then 15.5 million, then 15.6 million. The damn thing is currently valued at 2.8 million according to the tax assessor.

You all don't get the point at all market value is far different than assessed value. The court used assessed value to prove fraud when only the tax assessor uses assessed value banks use market value and so do insurance companies.

Assessed value is what they use to bill you, you don't assess it and tell them they decide on their own and send you a bill. Different states have different that they follow some only allow a certain % of an increase every year.

I hear California bases the value on what it sells for and it is increased at the rate of cost of living. So if you buy a house in the 80s for 100k your assessed rate will increase by like 2% every year and they base their tax of that and then when you sell it for 1,000,000 in 2020 that is the new assessed value.

California is very different because the assessed value can barely increase at all while you live in your home. There are homes assessed at their 1980 sale price.  
 

But Mar-a-Lago is not a private home and it cannot be sold or used as a private home.  That’s why it’s worth so little.  

Edited March 28 by Rebound