$21 million tax break in Trump real estate deal under investigation | Real Estate | postguam.com.
New York Democratic Attorney General Letitia James is investigating whether the Trump Organization improperly inflated the value of Seven Springs as part of the conservation easement on the property, according to filings in the case in August. The investigation also scrutinizes valuations, tax burdens and conservation easements at Trump's holdings in Los Angeles, Chicago and New York City.
Trump's son Eric, who now helps run the Trump Organization, sat for a deposition in the case Monday.
The Seven Springs appraisal, obtained by The Washington Post, appears to have relied on unsupported assertions and misleading conclusions that boosted the value of Trump's charitable gift - and his tax break, according to two independent appraisers who reviewed the document at The Post's request.
The appraisal was written by Cushman & Wakefield, a commercial real estate firm that has worked with Trump over many years and whose New York City headquarters are in a building co-owned by Trump.
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