Trump caught trying to dodge taxes by claiming he lives in New York
New York City just revoked a $48,000 tax break from Trump after a local newspaper caught him trying to improperly claim that his primary residence is in New York.
According to The New York Daily News, Trump was set to receive the tax break — which is available to New York City condo and co-op owners — until the newspaper inquired about his eligibility for the exemption.
A condo or co-op owner is only eligible for the savings if the property is his or her primary residence, which the city defines as “the dwelling unit in which the owner of the dwelling unit actually resides and maintains a permanent and continuous physical presence.”Trump moved to the White House when he was inaugurated in late January 2017, but he still kept his Trump Tower condo listed as a primary residence.
As recently as Tuesday, city records indicated that Trump was going to save $48,834.62 on his property taxes for the year beginning July 1.
When The New York Daily News questioned city officials about his eligibility, they responded by revoking the tax break.
“We have removed the exemption and have contacted the managing agent to update their records,” New York City Department of Finance spokesperson Sonia Alleyne told the newspaper. “Managing agents are required by law to inform the Department of Finance of primary residency changes.”
Trump was allowed to receive the tax break last year because he lived in the Trump Tower condo through Jan. 5, 2017. In order to qualify for the exemption this year, he would have to have lived in the residence until at least Jan. 5, 2018 — nearly a year after he moved out.
If no one had asked about it, Trump would have received the nearly $50,000 tax break despite not living in the city.
The New York Daily News blasted Trump on Thursday for his brazen attempt to get out of paying taxes on the condo.
“The cheapskate in chief who once deposited a check for 13 cents and claimed a $304 school tax credit granted to the unwealthy is at it again,” the editorial board wrote.
The paper commended the city’s Finance Department for pulling the plug on the scheme, then added: “It’s a tax abatement for residents, bud, not Presidents.”
If Trump is still trying to get away with schemes like this even after taking office, one must wonder what he was up to before he became president.
Of course, we wouldn’t have to wonder about this if Trump had simply released his tax returns — but the fact that he refuses to do so only adds to the cloud of suspicion.