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EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Steve G.
Date: July 05, 2018 07:17PM
Just our way of saying "Screw you, Don".


EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
[www.nydailynews.com]
New York City has nixed a $48,000 tax break President Trump was set to receive on his Trump Tower condo following inquiries from the Daily News about whether he is still eligible for the savings.

On Tuesday, city records indicated that Trump was set to save $48,834.62 on his tax bill for the year beginning July 1 through the city’s condominium abatement, a popular tax break available to condo and co-op owners.

But a homeowner is only eligible for the tax break if the condo is his primary residence — which the city’s tax rules define as “the dwelling unit in which the owner of the dwelling unit actually resides and maintains a permanent and continuous physical presence.”

Trump hasn’t kept a “permanent and continuous physical presence” in the swanky apartment — he moved to the White House upon his inauguration Jan. 20, 2017.

After The News asked the city Department of Finance about the abatement, it was removed from Trump’s tax records for the new tax year.

“We have removed the exemption and have contacted the managing agent to update their records,” Finance spokeswoman Sonia Alleyne said Thursday. “Managing agents are required by law to inform the Department of Finance of primary residency changes.”

Trump took the tax abatement last tax year — and was allowed to then, because he’d resided in the condo through Jan. 5, 2017. To keep it this year, he’d have to have lived there until at least Jan. 5, 2018.

According to his tax bills, his taxes were $251,574 last tax year, but were reduced by $44,025 thanks to the abatement, leaving him to pay $207,549.

Martha Stark, a former finance commissioner, told The News she thought the department was well within its rights to rescind the break based on its definition of a permanent residence — but that Trump might have room to challenge the decision under state law if he intends to continue living in New York after his presidency.

“I think that certainly just relying on that one provision one could certainly change or revoke the abatement, but I do think there is some interesting state law around primary residence which would make it so that if his intention is to come back, that he might really be entitled to the abatement.”

A White House spokeswoman referred questions about the abatement to Sheri Dillon, an attorney at Morgan Lewis who represents Trump in tax matters. She did not respond to requests for comment.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: GGD
Date: July 05, 2018 07:29PM
Quote
Steve G.
Just our way of saying "Screw you, Don".





Edited 1 time(s). Last edit at 07/05/2018 07:42PM by GGD.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Steve G.
Date: July 05, 2018 10:55PM
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: max
Date: July 06, 2018 09:10AM
Quote
GGD
Quote
Steve G.
Just our way of saying "Screw you, Don".


All the city managed to do, to just screw itself.
If he is a nonresident as they declared him to be, he will not have to pay resident income taxes....
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Ombligo
Date: July 06, 2018 09:21AM
When was the last time he paid income taxes?

zero out of zero is still zero, and nobody is a bigger zero than our current President.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: max
Date: July 06, 2018 10:04AM
Quote
Ombligo
When was the last time he paid income taxes?

zero out of zero is still zero, and nobody is a bigger zero than our current President.

Not true, you should stop parroting that idiotic propaganda, you are smarter than that, in fact he is paying, the representative return we have for 2005 is a clear evidence of that....

Quote

Trump paid about $38 million in income taxes on more than $150 million in income in 2005...
Trump didn't exactly throw cold water on the idea of not paying income taxes for all those years, suggesting that if he avoided income taxes for that period of time, it would be "smart."

[www.chicagotribune.com]




~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"We know that no one ever seizes power with the intention of relinquishing it. Power is not a means, it is an end.
One does not establish a dictatorship in order to safeguard a revolution;
one makes the revolution in order to establish the dictatorship."
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Sarcany
Date: July 06, 2018 10:20AM
Quote
max
All the city managed to do, to just screw itself.
If he is a nonresident as they declared him to be, he will not have to pay resident income taxes....

That's not his residence.

But the state of NY is probably his residence for tax purposes.

The determining factor is usually where you're registered to vote. After that, they look at where you've lived for most of the year, where your mail is delivered and where you got your driver's license.

It's also possible to be resident of multiple states. Each state makes their own determination. Wherever he has a house and spends any time at the house, he may well be taxed as a resident there.

...Which makes for an interesting approach to torment him a bit: I wonder how many states can go after him for taxes this year.



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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: max
Date: July 06, 2018 11:03AM
Quote
Sarcany
Quote
max
All the city managed to do, to just screw itself.
If he is a nonresident as they declared him to be, he will not have to pay resident income taxes....

That's not his residence.
.

It was, according to the OP, until they declared him to be a nonresident....
Quote
Trump took the tax abatement last tax year — and was allowed to then, because [i]he’d resided in the condo[/i] through Jan. 5, 2017.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Sarcany
Date: July 06, 2018 01:01PM
Quote
max
Quote
Sarcany
Quote
max
All the city managed to do, to just screw itself.
If he is a nonresident as they declared him to be, he will not have to pay resident income taxes....

That's not his residence.
.

It was, according to the OP, until they declared him to be a nonresident....
Quote
Trump took the tax abatement last tax year — and was allowed to then, because [i]he’d resided in the condo[/i] through Jan. 5, 2017.

I can't tell whether you're playing stupid or just need a boot to the head today.

He's lost his abatement on that one condo in NYC because he didn't meet the terms for the abatement.

That doesn't mean that he's not a New York resident for tax purposes.



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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Steve G.
Date: July 06, 2018 01:43PM
Quote
Sarcany
That doesn't mean that he's not a New York resident for tax purposes.

Naturally, we would have to see Trump's secret tax returns to ascertain that.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Speedy
Date: July 06, 2018 03:46PM
That return was released just to show that, in one very specific year, he paid taxes. Otherwise he has stated that because he is smart, he pays no taxes.

Quote
max
Quote
Ombligo
When was the last time he paid income taxes?

zero out of zero is still zero, and nobody is a bigger zero than our current President.

Not true, you should stop parroting that idiotic propaganda, you are smarter than that, in fact he is paying, the representative return we have for 2005 is a clear evidence of that....

Quote

Trump paid about $38 million in income taxes on more than $150 million in income in 2005...
Trump didn't exactly throw cold water on the idea of not paying income taxes for all those years, suggesting that if he avoided income taxes for that period of time, it would be "smart."

[www.chicagotribune.com]



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: max
Date: July 06, 2018 03:51PM
Quote
Sarcany
Quote
max
Quote
Sarcany
Quote
max
All the city managed to do, to just screw itself.
If he is a nonresident as they declared him to be, he will not have to pay resident income taxes....

That's not his residence.
.

It was, according to the OP, until they declared him to be a nonresident....
Quote
Trump took the tax abatement last tax year — and was allowed to then, because [i]he’d resided in the condo[/i] through Jan. 5, 2017.

I can't tell whether you're playing stupid or just need a boot to the head today.

He's lost his abatement on that one condo in NYC because he didn't meet the terms for the abatement.

That doesn't mean that he's not a New York resident for tax purposes.

That boot is sorely needed on your own cranium. Chak,
What do you think that abatement was all about?
Down here it is called a homestead exemption.
The abatement terms apply to primary residence only, the city denial of his residency status gives him a prima facie evidence to deny city its cut of his taxes.
The geniasses did screw themselves....

I can't tell whether you're playing stupid or just need a boot to the head today.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: Sarcany
Date: July 06, 2018 07:45PM
Quote
max
Quote
Sarcany
Quote
max
Quote
Sarcany
Quote
max
All the city managed to do, to just screw itself.
If he is a nonresident as they declared him to be, he will not have to pay resident income taxes....

That's not his residence.
.

It was, according to the OP, until they declared him to be a nonresident....
Quote
Trump took the tax abatement last tax year — and was allowed to then, because [i]he’d resided in the condo[/i] through Jan. 5, 2017.

I can't tell whether you're playing stupid or just need a boot to the head today.

He's lost his abatement on that one condo in NYC because he didn't meet the terms for the abatement.

That doesn't mean that he's not a New York resident for tax purposes.

That boot is sorely needed on your own cranium. Chak,
What do you think that abatement was all about?
Down here it is called a homestead exemption.
The abatement terms apply to primary residence only, the city denial of his residency status gives him a prima facie evidence to deny city its cut of his taxes.
The geniasses did screw themselves....

I can't tell whether you're playing stupid or just need a boot to the head today.

Amazing!

A man who allegedly has amassed all that wealth and is so frugal that he has only one little tax sheltered condo in New York to his name!



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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: JoeH
Date: July 07, 2018 01:11AM
Homestead exemption in TX has nothing to do with a residence abatement in NYC.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: max
Date: July 07, 2018 01:01PM
Quote
Sarcany
A man who allegedly has amassed all that wealth and is so frugal that he has only one little tax sheltered condo in New York to his name!

Is that foot lodged in the mouth creating that many comprehension difficulties?
You can have only one with the residency exemption and in order to have one, the city has to acknowledge your residency....

Quote
JoeH
Homestead exemption in TX has nothing to do with a residence abatement in NYC.

it is the same concept, you have to prove your residency and the point of this discussion still is that by nixing his residency status in NYC, the political Democratic geniasses screwed taxpayers out of potentially several million dollars that Trump would have to pony up otherwise.....
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: JoeH
Date: July 07, 2018 03:33PM
Quote
max
Quote
Sarcany
A man who allegedly has amassed all that wealth and is so frugal that he has only one little tax sheltered condo in New York to his name!

Is that foot lodged in the mouth creating that many comprehension difficulties?
You can have only one with the residency exemption and in order to have one, the city has to acknowledge your residency....

Quote
JoeH
Homestead exemption in TX has nothing to do with a residence abatement in NYC.

it is the same concept, you have to prove your residency and the point of this discussion still is that by nixing his residency status in NYC, the political Democratic geniasses screwed taxpayers out of potentially several million dollars that Trump would have to pony up otherwise.....

Being a resident of the state is set by state laws, not NYC ones, you are conflating him being a resident with having a residence. They are not only two different but related words, but also different matters under the laws. NYC is perfectly able to decide he is not currently residing in his NYC property, and therefore the property is not eligible for the abatement, and the state of NY still considering him a resident for tax purposes.

If you go back a bit in time, Mitt Romney was able to claim being a resident of the state of Massachusetts and run for governor though he has no actual home (residence) at the time. He had sold his house in MA when he headed off to Salt Lake City for a few years. The connection accepted by election commission, he had maintained ties to the state while serving as head of the Salt Lake City Olympics by storing some of his belongings in the basement of his son's house here in MA.



Edited 1 time(s). Last edit at 07/07/2018 03:33PM by JoeH.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: sekker
Date: July 07, 2018 11:16PM
I would bet all of my savings that 2005 is the year 45 paid the MOST taxes, and that 90% of the last 20 years he paid far less or none.
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Re: EXCLUSIVE: City nixes property tax break for Trump's NYC apartment
Posted by: max
Date: July 15, 2018 01:15PM
Quote
JoeH

Being a resident of the state is set by state laws, not NYC ones, you are conflating him being a resident with having a residence. They are not only two different but related words, but also different matters under the laws. NYC is perfectly able to decide he is not currently residing in his NYC property, and therefore the property is not eligible for the abatement, and the state of NY still considering him a resident for tax purposes.

Sheesh.
Are you trying to prove without any doubt that comprehension is totally absent from your meagre intellectual arsenal,
The discussion was about Trump being a resident of NYC, not NY state.
That is your strawman.
Two different concepts.

By denying Trump residency in the city and his stupid 45thousand credit, the Democratic morons running the city cheated themselves and the taxpayers of half a million dollars he would have paid in NYC taxes ON TOP of NY state dues.
Or were you totally unaware that NYC has close to 4% tax rate applicable to Trump income category on top of whatever the state collects. There is another smaller deal for the commuters working in the city.

Since New York State tax rate is very similar to that of DC, there is no reason for Trump not to claim NY state residency, just as Obama claimed Illinois, the taxes will remain essentially the same
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