Trump National Westchester: Worth $50 Million Or $1.4 Million?

The Guardian's Jon Swaine looks into various Donald Trump lawsuits related to Trump National Golf Club in Westchester and of most interest to those following the presidential race is a valuation discrepancy for the course.

Swaine writes that Trump's financial disclosure forms list the course as a $50 million asset. In the lawsuit where he hopes to lower the property tax bill, not so much. Or even close to that.

The Republican presidential frontrunner is suing the town of Ossining in Westchester County to reduce the taxes on Trump National Golf Club, a 147-acre property with a lavish clubhouse and 18-hole course whose managers are separately accused of causing floods that led to $240,000 worth of damage to local public facilities.

Trump’s lawsuit in county court argues that the luxurious private club, which he bought in foreclosure for about $8m in the mid-1990s before spending what he claimed at the club’s opening event was another $45m in improvements, has been unfairly assessed and is in fact worth only $1.4m.

“That is crazy low,” Fernando Gonzalez, the Ossining town assessor, said in an interview. Town authorities are fighting back against the allegations. “We believe they do not have a case,” said Gonzalez. Attorneys for Trump did not respond to questions.