Palm Beach County Taxes Mar-a-Lago at $37 Million, Despite $1.2 Billion Market Value
Assessment Highlights Dispute Between Trump and Tax Officials
Judge Notes Overvaluation of At Least $2.3 Billion
A judge has noted an overvaluation of at least $2.3 billion in the assessment of Donald Trump's Mar-a-Lago Club in Palm Beach County, Florida. Palm Beach County taxes Mar-a-Lago at $37 million, despite defense experts valuing the property at around $12 billion.
The county's tax assessment is based on the property's annual net operating income as a club, rather than its resale value. However, Trump has valued Mar-a-Lago at much higher levels. The judge's finding highlights the ongoing dispute between Trump and tax officials over the value of the property.
The Palm Beach County assessor had previously appraised Mar-a-Lago's market value to be between $18 million and $276 million. Several real estate agents and brokers have said that Mar-a-Lago would be worth about $400 million at a bare minimum if sold in the current market.
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