‘Good Luck With Your New Tax Bill’: Eric Trump Slammed For Declaring Mar-a-Lago Is ‘Speculated’ to Be Worth Over $1 Billion

Phillip NietoSep 27th, 2023, 3:10 pm
 

Eric Trump

Eric Trump faced widespread criticism for claiming Mar-a-Lago was worth over $1 billion, following a New York judge’s ruling that his father had been overvaluing his property assets for years.

Judge Arthur Engoron ruled on Tuesday that former President Donald Trump “deceived banks, insurers, and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing,” according to the Associated Press.

The ruling could force the Trump Organization to halt all business in New York City. Trump has stated he plans on appealing the decision as soon as possible.

His son, Eric, took to X (the platform formerly known as Twitter) to bash the judge and claim that Mar-a-Lago is worth “[well] over a billion dollars,” inviting mockery from critics.

“In an attempt to destroy my father and kick him out of New York, a judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximate ’18 Million dollars’…Mar-a-Lago is speculated to be worth we’ll over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated,” Eric Trump wrote on Twitter.

Engoron ruled that Donald Trump had overvalued Mar-a-Lago by inflating its value by 2,300%, citing a Palm Beach County Assessor’s appraisal from 2011-2021 that valued the property worth between $18 and 27 million.

A chorus of criticism followed up Eric Trump’s tweet, including from Rep. Jared Moskowitz (D-FL), who noted that the younger Trump’s statement might have some unintended consequences.

“I agree Eric. I call on the Palm Beach County Property appraiser to assess Mar-a-Largo at a billion dollars. Good luck with your new Tax Bill,” Moskowitz replied with laughing emojis.

Moreover, some users pointed out that Engoron’s ruling was based on a recommendation from a county appraiser and that Mar-a-Lago’s deed requires the estate to remain a club; thus, reducing its resale value compared to other properties in the area.

“It’s not the judge’s valuation. It’s the Palm Beach County assessor’s. And while $27 million is obviously an undervaluation, Mar-A-Lago can’t be developed or turned into a single-family estate. Its deed requires it to remain a club, which radically reduces its re-sale value,” author James Surowiecki replied.

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