Report: Trump got tax break for those making under $500K
Republican presidential front-runner Donald Trump reportedly qualified for a state property-tax break for people who make $500,000 or less, business newspaper Crain’s reported Tuesday.
Trump qualified for the New York state School Tax Relief Program, called Star for short, which offers about a $300 annual benefit, on his latest property-tax bill for his Trump Tower penthouse on Fifth Avenue.
{mosads}To qualify for the tax break, a married couple’s annual income must be $500,000 or less.
According to records with the city’s Department of Finance, Trump got a $302 Star benefit on his latest property-tax bill, Crain’s reported.
Property-tax expert and former New York City Finance Commissioner Martha Stark told Crain’s it was “interesting” that Trump received Star.
Trump released a financial statement last June that said his net worth was $8.7 billion. A month later, he said in a press release his net worth was “in excess of ten billion dollars.”
Trump’s annual property-tax bill is $175,544 but was reduced $37,236 through a city abatement program, Crain’s reported.
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