Donald Trump Is Still Getting That $304 Middle-Class Tax Break
In March, Crain’s New York reported that Donald Trump has, for the past three years, received a tax credit intended for New York City families who have an income under $500,000. Both the city and the Trump campaign agreed that a mistake had been made, although nobody could explain what had actually happened. In any case, whatever the mistake was, it hasn’t yet been rectified, because Trump’s most recent property tax bill shows that he’s still receiving the $304 credit.
It may be the case that Trump has a very good accountant who has arranged the presumptive Republican nominee’s assets in such a way that he appears to the Department of Taxation and Finance like someone who earns no more than $500,000 per year. It may also be the case that Trump really does only earn that much money, despite his claims otherwise. This, of course, would explain his reluctance to release his tax returns.
“He should not have received the abatement and should return the full value to state taxpayers,” a city spokeswoman said earlier this year. Trump’s tax lawyer said that he expected the value of the credits would be added to the real estate developer’s future tax bills.
Altogether, Trump is paying $193,222 in property taxes on his Trump Tower penthouse. Crain’s reports:
The city’s finance department said it checks with New York state tax authorities every year to make sure applicants for the STAR benefit have income under $500,000. A state tax official confirmed that the state received a list of STAR recipients every year and notifies the city of who is eligible. (The state defines income for STAR purposes as federal adjusted gross income minus the taxable amount of total distributions from annuities or individual retirement accounts.)
To try to sort it out, Crain’s asked for copies of Trump’s STAR applications under New York’s Freedom of Information Law. But after a two-month search, the city’s finance department said that no documents could be found. So the mystery of the billionaire and the middle-class tax break continues.
“The Department of Finance has a process in place for reviewing eligibility that it must follow,” Freddi Goldstein, a mayoral spokesperson, told Gawker. “DOF has been reviewing Mr. Trump’s exemption status for final determination.”
Trump’s June 1 bill also includes a note from the NYC Health Department, reminding “property owners that they must remove standing water, where mosquitos can breed in warm weather.” Can’t very well have voracious parasites breeding atop Manhattan’s glittering skyscrapers.