Post by tigercpa on Oct 4, 2023 18:34:35 GMT
The value could be $1 billion plus, to the right buyer. The only property to touch both the Atlantic and the IC Waterway (for those of you in Rio Linda, hence the name Mar-a-lago).
The judge referenced the tax assessed value of $18MM, the tax return shows $28MM (minus depreciation), and both of those are largely based on historical cost, not FMV. The tax assessed value will increase essentially monotonically (again, for those of you in Rio Linda, that means "slowly") from purchase, in accordance with Palm Beach County's tax assessments.
In any event, a bank will get its own independent appraisal of FMV before making a loan.
The judge referenced the tax assessed value of $18MM, the tax return shows $28MM (minus depreciation), and both of those are largely based on historical cost, not FMV. The tax assessed value will increase essentially monotonically (again, for those of you in Rio Linda, that means "slowly") from purchase, in accordance with Palm Beach County's tax assessments.
In any event, a bank will get its own independent appraisal of FMV before making a loan.