Real estate insiders question how Trump fraud judge valued Mar-a-Lago

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Real estate insiders question how Trump fraud judge valued Mar-a-Lago
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A New York judge ruled last week that former President Donald Trump inflated the value of his Mar-a-Lago estate by an eye-popping 2,300%.

Video above: Donald Trump allegedly inflated his net worth by more than $2 billionThat finding, part of the ruling that found Trump and his adult sons liable for fraud, was just one of multiple examples in which Judge Arthur Engoron found the Trump real estate empire to have been grossly inflated in value. But the Mar-a-Lago finding in particular is raising eyebrows among real estate and legal experts because of the metric Judge Engoron relied on: the county tax assessor's appraisal value.

The judge noted Trump valued Mar-a-Lago at between $426.5 million and $612 million,"an overvaluation of at least 2,300%, compared to the assessor's appraisal." Goldentayer added,"If there is a ranking as to what would have the lowest valuation, it's the tax assessor's office, followed by Zillow and then the realtor's valuation is the highest."

Of course, just because the tax assessment value used by the judge may have lowballed the value of Mar-a-Lago, doesn't necessarily mean Trump used a fair valuation for Mar-a-Lago. That point is up for debate. Goldentayer said to come up with a value for Mar-a-Lago, she would hire three independent appraisers and take a blended average of their valuations. She would not use the tax appraiser's valuation.

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