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Originally posted by Eff Pandas
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Becky Robinson, the tax assessor's spokesperson, said that method is used because private clubs are so rarely sold or built, making it impossible to set their tax rates by comparing them to similar properties. Mar-a-Lago's property tax bill will be $602,000 this year, county records show.
…Palm Beach real estate agents who specialize in high-end properties scoffed at the idea that the estate could be worth that little, in the unlikely event Trump ever sold.
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave.
“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.
“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member. “There is zero chance that it’s going to sell for $40 million or $50 million.”
…Eli Beracha, chair of Florida International University's Hollo School of Real Estate, agreed it's difficult to assess the value of any unique property. The fact that Trump owned Mar-a-Lago would likely increase its sale price.
“Some people are going to argue that not everyone likes Trump — some people would actually pay less because of that. ... But the high bidder is probably going to be a person who buys it because it belonged to Trump,” Beracha said.
Pulitzer said the rock-bottom price for Mar-a-Lago would be $300 million. Thomson said at least $600 million. If uber-billionaires got into a bidding war, they said, a sale of a billion dollars or more would be possible.
The much smaller Palm Beach compound once owned by the Kennedy political dynasty sold for $70 million three years ago.
https://ny1.com/nyc/all-boroughs/new...is-fraud-trial
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