Trump faces $1.5M in Palm Beach County property taxes

Trump has 10 local properties, including Mar-a-Lago Club

Miami /
Aug.August 25, 2020 03:30 PM
President Trump and Mar-a-Lago Club (Credit: Joe Raedle/Getty Images, and Pete Marovich/Getty Images)

President Trump and Mar-a-Lago Club (Credit: Joe Raedle/Getty Images, and Pete Marovich/Getty Images)

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


Related Articles

arrow_forward_ios
Donald Trump Jr. and Kimberly Guilfoyle with 492 & 494 Mariner Drive (Getty, Google Maps)
Jupiter’s Admirals Cove residents speak out against Don Jr. and Kimberly Guilfoyle’s plans to move in
Jupiter’s Admirals Cove residents speak out against Don Jr. and Kimberly Guilfoyle’s plans to move in
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Laurent Morali and Charles Kushner (iStock)
Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Ari Pearl, Jonathan Leifer and 9540 West Bay Harbor Drive. (Wyndam Hotels, PPG Development, L3C Capital Partners)
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
President Donald Trump with Melania Trump and Mar-a-Lago (Getty)
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Florida representative wants Mar-a-Lago shut down following maskless NYE party
South Florida contracts increase through the end of 2020. (Getty)
Signed resi contracts up in South Florida in December
Signed resi contracts up in South Florida in December
From left: Tom Brady and Gisele Bündchen; Pharrell Williams; Sylvester Stallone and Jennifer Flavin; Jared Kushner and Ivanka Trump (Getty, iStock)
South Florida’s biggest real estate stories of 2020
South Florida’s biggest real estate stories of 2020
Shelborne South Beach and Seagull Hotel (Shelborne, Google Maps)
Here are South Florida’s biggest hotel sales in 2020
Here are South Florida’s biggest hotel sales in 2020
arrow_forward_ios

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

Loading...