Trump faces $1.5M in Palm Beach County property taxes
Trump has 10 local properties, including Mar-a-Lago Club
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.
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