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When is Leticia going after Jon Stewart for fraud?


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With assessed values and selling prices so out of whack, questions should be asked about NY's assessment process but I don't see what that has to do with owners. Everyone would undervalue their property for tax purposes if they could and no one is going to turn down an offer that is more than its assessed value.

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Posted (edited)
53 minutes ago, Rebound said:

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.  

Its not though, I gave you CNN who is no fan of Trumps report that it can be sold for hundreds of millions, far from the 18 million dollar valuation.

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16 minutes ago, Fluffypants said:

Its not though, I gave you CNN who is no fan of Trumps report that it can be sold for hundreds of millions, far from the 18 million dollar valuation.

No… are you truly that stupid?

They interviewed someone who thinks Trump’s home is worth a lot. He probably didn’t know that the land is deed restricted.  What do you think the value of a golf club is if the land can never be used for any other purpose and all you can collect is annual fees? It probably can’t bring in more than $20 million in revenue.  That windbag Trump says he can sell the property for $2 billion. How can a private club be worth that much?

Edited by Rebound
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1 minute ago, Rebound said:

No… are you truly that stupid?

They interviewed someone who thinks Trump’s home is worth a lot. He probably didn’t know that the land is deed restricted.  

Not a he but a she and yeah they bring on an expert to talk about Trumps properties but they aren't a  random internet troll and had no idea it was deed restricted. It can be turned back into a residence it wasn't sold to him as a private club but a private residence, he talked the city council into letting him make it a private club with certain restrictions. It can become a private residence again.

The mental gymnastics you all use astounds me. It amazes me that no matter how much evidence presented to the contrary you still think the way you do.

Can you say cognitive dissonance, I bet you can.

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2 hours ago, Aristides said:

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?

Someone artificially kept the tax assessment ridiculously low. Jon should go to jail because "that's not a victimless crime". 

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19 minutes ago, WestCanMan said:

Someone artificially kept the tax assessment ridiculously low. Jon should go to jail because "that's not a victimless crime". 

What crime? Why should he go to jail? He isn't responsible for the assessment. Should you go to jail if the province assesses a property of yours below market value?

Edited by Aristides
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18 minutes ago, Aristides said:

What crime? Why should he go to jail? He isn't responsible for the assessment. Should you go to jail if the province assesses a property of yours below market value?

How do you know he's not responsible for the low assessment? Maybe he has a friend at city hall?

This is serious. We should put Stewart in jail and ask questions later.

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3 hours ago, Deluge said:

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

LYING on a loan application is BANK FRAUD whether it fooled anyone or not.

And Trump is a PATHOLOGICAL LIAR always trying to take advantage of FOOLS LIKE YOU.

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9 minutes ago, WestCanMan said:

How do you know he's not responsible for the low assessment? Maybe he has a friend at city hall?

This is serious. We should put Stewart in jail and ask questions later.

Right, put someone in jail because they might know someone who might have done something and look for evidence later. And you complain about the way the truckers were treated. You're a joke.

Edited by Aristides
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8 minutes ago, Aristides said:

Right, put someone in jail because they might know someone who might have done something and look for evidence later. And you complain about the way the truckers were treated. You're a joke.

I'm just going by Jon's standards, not mine. His was not a victimless crime. He should have been paying taxes based on his actual property value in 2013, not its value in 1981.

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7 minutes ago, WestCanMan said:

I'm just going by Jon's standards, not mine. His was not a victimless crime. He should have been paying taxes based on his actual property value in 2013, not its value in 1981.

You're just going by YOUR PRETENTIOUS "understanding" of "Jon's standards."

Trump's crime was NOT paying taxes based on NY tax assessments. IT WAS BANK FRAUD and submitting false valuations IN WRITING. 

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Posted (edited)
6 minutes ago, robosmith said:

You're just going by YOUR PRETENTIOUS "understanding" of "Jon's standards."

Trump's crime was NOT paying taxes based on NY tax assessments. IT WAS BANK FRAUD and submitting false valuations IN WRITING. 

The courts got their valuations from tax assessor valuations not fair market valuations. He did not commit fraud, the banks did their due diligence and they didn't have a problem with his valuations.

Property valuations are subjective, there isn't a set standard. The bank has their standard, the owners have their own method and the government has a whole other standard.

This was the problem with this whole case, this is why there needed to be an actual trial on the merits of the case, not just a summary judgement.

If there was fraud, there should be some sort of complaint or at least some sort of damages they could link to it but there wasn't anything like that.

Edited by Fluffypants
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33 minutes ago, WestCanMan said:

I'm just going by Jon's standards, not mine. His was not a victimless crime. He should have been paying taxes based on his actual property value in 2013, not its value in 1981.

What was the crime? I keep asking but you can't answer. The city or state sets the taxable value, not the owner. I'll ask again, should you go to jail if the province assesses the value of your property below market and you sell it for more than the assessed value? Right now, properties in my development are going for about $250K more than their assessed value. Should their owners go to jail when they sell for more?

 

Mil rates are more important than assessed values. The assessed value can remain the same but the government just ups the mil rate to collect more tax. This saves the problem of doing continual assessments.

Edited by Aristides
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22 minutes ago, Fluffypants said:

The courts got their valuations from tax assessor valuations not fair market valuations. He did not commit fraud, the banks did their due diligence and they didn't have a problem with his valuations.

Property valuations are subjective, there isn't a set standard. The bank has their standard, the owners have their own method and the government has a whole other standard.

This was the problem with this whole case, this is why there needed to be an actual trial on the merits of the case, not just a summary judgement.

If there was fraud, there should be some sort of complaint or at least some sort of damages they could link to it but there wasn't anything like that.

It WAS "actual trial on the merits of the case" as decided by the judge. If Trump wanted a jury trial, he should have asked for one. Duh

Your amateur legal eagle OPINION is NOT CREDIBLE.

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12 minutes ago, Aristides said:

What was the crime? I keep asking but you can't answer. The city or state sets the taxable value, not the owner. I'll ask again, should you go to jail if the province assesses the value of your property below market and you sell it for more than the assessed value? Right now, properties in my development are going for about $250K more than their assessed value. Should their owners go to jail when they sell for more?

 

Mil rates are more important than assessed values. The assessed value can remain the same but the government just ups the mil rate to collect more tax. This saves the problem of doing continual assessments.

That's an assumption. This needs to be investigated. 

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21 minutes ago, WestCanMan said:

That's an assumption. This needs to be investigated. 

I don't know what NY does but in BC, the province does the assessments and cities set the mil rate according to the tax revenues they need to generate to meet their budget. All the city cares about is how much tax it needs from a property, not its market value.

If my place was taxed purely on its market value, my property taxes would have tripled in the 12 years I have owned it. They have gone up but nowhere near that much.

Edited by Aristides
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1 hour ago, WestCanMan said:

How do you know he's not responsible for the low assessment? Maybe he has a friend at city hall?

This is serious. We should put Stewart in jail and ask questions later.

 

21 minutes ago, WestCanMan said:

That's an assumption. This needs to be investigated. 

 

You've contradicted yourself and/or revealed you extreme IGNORANCE about US legal proceedings.

We don't put people in jail based on your STUPID CANUCK ASSUMPTIONS.

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21 minutes ago, Aristides said:

I don't know what NY does but in BC, the province does the assessments and cities set the mil rate according to the tax revenues they need to generate to meet their budget. All the city cares about is how much tax it needs from a property, not its market value.

If my place was taxed purely on its market value, my property taxes would have tripled in the 12 years I have owned it. They have gone up but nowhere near that much.

They haven't even doubled. But Stewart sold his price for nearly ten times the assessed value. $1.8M vs $17M.

Using the tax rate calculator for BC I posted earlier, a $1.8M home here in Langley pays $5k/yr, and a 17M dollar home pays $55k/yr. That's a lot of cheddar that Stewart is saving. 

Let's be real, $1.8M isn't even a ballpark figure for a $17M property. That's like your property with it's 1990 pricetag. 

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42 minutes ago, WestCanMan said:

They haven't even doubled. But Stewart sold his price for nearly ten times the assessed value. $1.8M vs $17M.

Using the tax rate calculator for BC I posted earlier, a $1.8M home here in Langley pays $5k/yr, and a 17M dollar home pays $55k/yr. That's a lot of cheddar that Stewart is saving. 

Let's be real, $1.8M isn't even a ballpark figure for a $17M property. That's like your property with it's 1990 pricetag. 

So what. Property owners don’t do evaluations or set tax rates. Maybe look at the assessments and selling prices for comparable properties in that area before you accuse people of being criminals.

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19 minutes ago, Aristides said:

So what. Property owners don’t do evaluations or set tax rates. Maybe look at the assessments and selling prices for comparable properties in that area before you accuse people of being criminals.

You don't get it, ok Jon Stewart said that Trump committed fraud but undervaluing his properties on his taxes thus depriving New York of tax money.

Now do you understand why people are tongue in cheek claiming Jon Stewart committed fraud, it was based on his own reasoning.

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3 minutes ago, Fluffypants said:

You don't get it, ok Jon Stewart said that Trump committed fraud but undervaluing his properties on his taxes thus depriving New York of tax money.

Now do you understand why people are tongue in cheek claiming Jon Stewart committed fraud, it was based on his own reasoning.

Well then, that would be rather stupid but it is not the crime Trump is accused of.

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2 hours ago, Aristides said:

So what. Property owners don’t do evaluations or set tax rates. Maybe look at the assessments and selling prices for comparable properties in that area before you accuse people of being criminals.

It's almost classism if homeowners are paying taxes based on artificially low assessments. The guy who posted that tax assessment may have just let the toothpaste outta the tube. 

Renters are paying their income taxes, and the people who own multiple rental units can make a ton of money off of them. Especially if they can rent out their slum 1-bdrm apartment to 12 illegal immigrants. They should be paying the proper amt of property taxes. 

Trump looks more and more like a normal NY property owner.

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When a tax acessor  screws his own state by incompetently valuing a real estate property, the crime is by the acessor, not the person paying the tax unless the person paying the tax deliberately under valued a property and knew the tax level would be wrong and said nothing and paid based on what the acessor said.  So if Stewart knew because he falsified his records submitted, then yes he's as guilty bad Trump who did the same.

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7 hours ago, WestCanMan said:

They haven't even doubled. But Stewart sold his price for nearly ten times the assessed value. $1.8M vs $17M.

Using the tax rate calculator for BC I posted earlier, a $1.8M home here in Langley pays $5k/yr, and a 17M dollar home pays $55k/yr. That's a lot of cheddar that Stewart is saving. 

Let's be real, $1.8M isn't even a ballpark figure for a $17M property. That's like your property with it's 1990 pricetag. 

Not that I think you people care a bit about reality, but...

NYC Dept of Finance

Your Assessed Value is based on a percentage of your Market Value. This percentage is known as the Level of Assessment or Assessment Ratio. Your Assessment Ratio depends on your tax class.

Assessment Ratios

Tax class 1 6%
Tax class 2, 3 and 4     45%


Limits on Increases for Class 1, 2a, 2b and 2c properties.
State law limits how much Assessed Values can increase each year for certain tax classes. Your tax class determines what limits apply to your property:
 

  • Tax class 1 - 6% per year, no more than 20% over 5 years.   
  • Tax class 2a, 2b, 2c - 8% per year, no more than 30% over 5 years for building with 10 or less units.
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3 hours ago, Hodad said:

Not that I think you people care a bit about reality, but...

NYC Dept of Finance

Your Assessed Value is based on a percentage of your Market Value. This percentage is known as the Level of Assessment or Assessment Ratio. Your Assessment Ratio depends on your tax class.

Assessment Ratios

Tax class 1 6%
Tax class 2, 3 and 4     45%


Limits on Increases for Class 1, 2a, 2b and 2c properties.
State law limits how much Assessed Values can increase each year for certain tax classes. Your tax class determines what limits apply to your property:
 

  • Tax class 1 - 6% per year, no more than 20% over 5 years.   
  • Tax class 2a, 2b, 2c - 8% per year, no more than 30% over 5 years for building with 10 or less units.

Thanks for exposing WCM's ignorance and pretence of expertise he doesn't have, AGAIN.

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