Paul Manafort appears to have illegally claimed condo abatement for Trump Tower pad: report

Los Angeles /
Apr.April 11, 2017 02:00 PM

From TRD New York: Paul Manafort, former campaign chair to President Donald Trump and a key figure in the FBI’s probe into Russian election interference, appears to be double dipping on property tax breaks for his homes in Palm Beach and at Trump Tower, the New York Daily News reported.

Manafort claims the condominium abatement for the unit he purchased at the Fifth Avenue tower for $3.6 million in cash in 2006, which saved $5,502 off his $31,439 tax bill.

In order to receive the abatement, the apartment must be Manafort’s primary residence. But at the same time he’s claiming that his home in Palm Beach is his primary residence, reducing his $737,166 tax bill by $50,000 a year.

The attorney who prepared the New York tax filings said Manafort considers the Florida home his primary residence.

“Florida is Mr. Manafort’s primary residence. He has not asked to change his residence to New York state,” attorney Bruce Baldinger said. “My law firm was charged with overseeing the requisite filings for the State of New York.

“We are reviewing the matter and will, if necessary, make any correction,” he added.

Manafort is registered to vote in Florida. There is no record of him being registered to vote at either his Trump Tower address or at his other properties in Soho and Brooklyn, city officials told the News.

Manafort quit Trump’s campaign in August after news emerged that he had received $12 million in cash payments by Ukraine’s ousted, pro-Russian oligarchs. The FBI is looking into whether Trump associates, including Manafort, colluded with Russia to manipulate the presidential election. [NYD]Rich Bockmann


Related Articles

arrow_forward_ios
Karen Bass with 200 N Spring St
Bass asks Garcetti staff to stay until spring
Bass asks Garcetti staff to stay until spring
(Getty Images)
LA developer doubled as abusive porn director, documentary alleges
LA developer doubled as abusive porn director, documentary alleges
Newmark's Kevin Shannon, Marcus & Millichap's Jordan Asheghian and Tony Azzi, Stepp Commercial's Travis Traweek and Waterford's John Drachman (Newmark, Marcus & Millichap, Stepp Commercial, Waterford Property Company)
Brokers tell clients to sell before transfer tax deadline
Brokers tell clients to sell before transfer tax deadline
Karen Bass (Getty)
Bass to declare a state of emergency on LA homelessness
Bass to declare a state of emergency on LA homelessness
Rick Caruso and Karen Bass (Getty)
Caruso concedes after $100M campaign for LA mayor
Caruso concedes after $100M campaign for LA mayor
Transfer tax advocates include SEIU's April Verrett, L.A. Family Housing's Stephanie Klasky-Gamer and Alliance for Community Transit-Los Angeles' Laura Raymond (SEIU, L.A. Family Housing, Alliance for Community Transit-Los Angeles)
LA transfer tax advocates declare victory
LA transfer tax advocates declare victory
Redondo Beach Mayor Bill Brand with Redondo Beach pier (Bill Brand via Twitter, Google Maps, Getty)
Developer leaks crude emails by Redondo Beach mayor
Developer leaks crude emails by Redondo Beach mayor
Councilman Jose Huizar (Charlie Kaijo/CC BY 2.0/via Wikimedia Commons, Getty)
Developer found guilty in LA City Hall bribery scheme
Developer found guilty in LA City Hall bribery scheme
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...