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
Glenn Straub and 2855 Hurlingham Drive (Casino.org, Google Maps)
Glenn Straub buys Wellington estate for $9M
Glenn Straub buys Wellington estate for $9M
(Christian J. Angle Real Estate)
Waterfront Palm Beach home sells for $33M after nearly 30 years in family’s hands
Waterfront Palm Beach home sells for $33M after nearly 30 years in family’s hands
Avenir Development's Rosa Schechter and the Avenir project in Palm Beach Gardens
Avenir developer in Palm Beach Gardens pays $69M for more acreage
Avenir developer in Palm Beach Gardens pays $69M for more acreage
Stanley C. Moss and 3621 South Ocean (Polen Capital, 3621 South Ocean)
Investment management CEO buys oceanfront Highland Beach townhome for $6M
Investment management CEO buys oceanfront Highland Beach townhome for $6M
3050 Coral Springs Drive in Coral Springs; 1361 Southeast Fourth Street in Deerfield Beach and clips from the complaints. (Google Maps, District Court of Southern Florida)
SEC charges South Floridians in alleged $9M real estate scam
SEC charges South Floridians in alleged $9M real estate scam
Greg Norman and Tommy Hilfiger (Getty, iStock)
Buy this, sell that: South Florida luxury homeowners reshuffle during resi boom
Buy this, sell that: South Florida luxury homeowners reshuffle during resi boom
Stephen Ross (Getty) with Esperanté Corporate Center at 222 Lakeview Avenue in West Palm Beach
Related Companies buys half ownership interest in West Palm office tower
Related Companies buys half ownership interest in West Palm office tower
TPG CEO Jon Winkelried with AC Hotel Miami Midtown at 3400 Biscayne Boulevard and the next-door Hampton Inn & Suites at 3450 Biscayne Boulevard (Hilton, Google Maps)
Why buy one when you can take two? TPG nabs Miami AC Marriott, Hampton Inn in Edgewater for $61M
Why buy one when you can take two? TPG nabs Miami AC Marriott, Hampton Inn in Edgewater for $61M
arrow_forward_ios

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

Loading...