Trump faces $1.5M in Palm Beach County property taxes

Preliminary estimates by the Palm Beach County Property Appraiser’s Office show that companies linked to President Trump could pay as much as $1.49 million in property taxes for 2020.

That’s only slightly higher than the $1.48 million estimates from last year, according to the Palm Beach Daily News.

Trump has 10 local properties, including Mar-a-Lago Club, whose taxable value of $26.6 million is unchanged, year-over-year. Trump-linked companies own two houses and a vacant parcel on Woodbridge Road to the north of Mar-a-Lago, an oceanfront mansion with a vacant parcel north of the club’s beach facilities, part of the Trump International Golf Club near West Palm Beach and Trump National Golf Club in Jupiter.

Mar-a-Lago is Trump’s Winter White House, where he established Florida residency last year.

The Trump Organization requested rent relief for its West Palm Beach golf club, as well as relief on a loan against its retail space at the base of Trump Plaza on New York’s Upper East Side.

Trump-related properties in Palm Beach County total a market value of $80.8 million, according to the Palm Beach Daily News. Almost all of that is taxable.

In Miami-Dade County, the Trump National Doral Miami golf resort in Doral reopened in June as Covid-19 infections spiked across the state. In early April, the property furloughed 500 employees after it was forced to close.

A proposed sale of Trump Organization’s stake in a pair of big-ticket office towers in 1290 Sixth Avenue in Manhattan and 555 California Street in San Francisco could generate a massive tax bill due to their purchase through a like-kind tax exchange, also called a 1031 exchange. [Palm Beach Daily News] — Wade Tyler Millward