You have reached your limit of free articles this month.

Enjoy unlimited access to myPalmBeachPost.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myPalmBeachPost.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myPalmBeachPost.com.

Records reveal Trump’s property tax bill, differences in values


Voters haven’t seen presidential nominee Donald Trump’s federal tax returns , but Palm Beach County records show the billionaire businessman’s local property tax bill will top $1.2 million this year as a result of the burgeoning real estate market.

Just under 655,000 preliminary tax notices were mailed to Palm Beach County property owners last month alerting them of how much they can expect to pay in property taxes this year. The tentative amounts included on the notices are generally the maximum that local governments can charge.

Among the owners and businesses that received notices: Trump; his exclusive Palm Beach club, Mar-a-Lago; and his two golf courses in suburban West Palm Beach and Jupiter.

In all, Trump and his businesses would pay just under $1.2 million in property taxes this year unless cities, the county, the school board, and other special taxing districts reduce their proposed tax rates and fees before final tax bills are mailed this fall, records show. At that rate, Trump and his businesses would see their tax bills grow by about 6 percent this year, up from $1.1 million in 2015.

Mar-a-Lago and the Trump National Golf Club in Jupiter would pay the bulk of the property taxes.

County records show property taxes on Trump’s private Palm Beach club would total $413,779 this year if local governments don’t reduce their tax rates, up slightly from last year’s level of $411,176.

Trump’s golf club in Jupiter would pay $415,814 this year, up 14 percent from $362,490 in 2015, county records show.

There’s a lot more clarity to Trump’s property tax bill than to the value of his Palm Beach County properties.

The property appraiser’s office has set the market value of the properties owned by Trump and his businesses, excluding the leased property in suburban West Palm Beach, at just under $51.4 million — an increase of 4.3 percent over last year’s level.

But in federal financial disclosure documents, Trump has put the value of Mar-a-Lago and the Jupiter golf club at more than $50 million each.

Such discrepancies are common place in property valuations. The market values assigned to a parcel by the property appraiser’s office are typically less than what the property would bring if it is sold.

For example, Trump sold an oceanfront mansion to a Russian billionaire for a recorded $95 million in 2008 — after the housing market boom, but before the market hit rock bottom. As of January, the property appraiser’s office puts the market value of that property at $81.6 million.

Still, the spread between Trump’s valuations of Mar-a-Lago and the Jupiter golf club in federal documents is large.

Moreover, since purchasing the ailing club for $5 million in 2012, Trump’s company has sought to reduce its property tax bill. The golf club petitioned the county’s value adjustment board to reduce its assessment in 2013, 2014 and 2015.

The readjustment petitions are often used by savvy property owners, particularly those with extensive real estate holdings, to fight for lower assessments. Last year, 5,584 petitions were filed with the value adjustment board, according to the clerk and comptroller’s office.

Trump will pay $192,683 in property taxes this year for three parcels he owns in Palm Beach, records show.

Although Trump International Golf Club leases the land for the suburban West Palm Beach course from the county, the agreement requires the company to pay property taxes on a portion of the site. This year, the proposed bill is just under $134,000, county records show.

Commissioners in 1996 agreed to lease Trump 215 acres of vacant land near the corner of Summit Boulevard and Congress Avenue for the golf club, after he agreed to drop a $75 million lawsuit over airplane noise at Mar-a-Lago.

In 2002, the commission agreed to lease Trump an adjacent 62-acre county-owned site.

Under the agreement with the county, the golf club is only required to pay taxes on the clubhouse building.

Final property tax bills bills are mailed by Nov. 1. Taxes become delinquent on April 1. Taxpayers who pay early get a discount. Those who pay in November get a 4 percent discount; December, 3 percent; January, 2 percent; and February, 1 percent.


Reader Comments ...


Next Up in Nation & World

Sword-carrying man dressed as Joker arrested
Sword-carrying man dressed as Joker arrested

A man was arrested Friday after going out in public while dressed to look like the Joker from “Batman,”  complete with a cape and a sword. Jeremy Putman, 31, was arrested and charged with wearing a mask in public. He is being held on $2,000 bail, WJLA reports.  Winchester police said they received several calls about Putman...
Spring breakers shotgun beer with shark
Spring breakers shotgun beer with shark

Spring breakers may have taken “fun” a little too far, using sea creatures to help them get drunk. The rowdy Instagram account for Total Frat Move shared a clip sent to the account from some Spring break revelers using an apparent dead shark to shotgun a beer.   While some found these posts amusing, others were critical, calling...
1 dead, 1 injured in shooting near Vegas’ Cosmopolitan hotel 
1 dead, 1 injured in shooting near Vegas’ Cosmopolitan hotel 

For the second time in less than 24 hours, police have swarmed the Las Vegas Strip after at least one person was killed in a shooting near the Cosmopolitan hotel and casino. Police said Saturday afternoon that the situation was not an active shooter situation.  The suspect peacefully surrendered around 6 p.m., according to the Las Vegas Metropolitan...
Burglary at Bellagio Hotel and Casino prompts lockdown on Vegas strip
Burglary at Bellagio Hotel and Casino prompts lockdown on Vegas strip

Las Vegas police are investigating a burglary at a retail store in the Bellagio Hotel and Casino after an incident that occurred overnight Friday, The Associated Press reported.  >> Read more trending news Police said Saturday they believe at least three people entered the store. It was not immediately clear what items were stolen...
Self-driving cars: Uber suspends program after Arizona crash
Self-driving cars: Uber suspends program after Arizona crash

A rollover crash in Arizona has led Uber Technologies Inc. to suspend its self-driving car program there while it investigates what happened, an Uber spokesman said Saturday.
More Stories