Trump Says New York Property Taxes Exceed His Park Avenue Retail Property Value

© REUTERS / Dustin ChambersFormer U.S. President Donald Trump attends a rally in Perry, Georgia, U.S. September 25, 2021
Former U.S. President Donald Trump attends a rally in Perry, Georgia, U.S. September 25, 2021 - Sputnik International, 1920, 08.10.2021
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WASHINGTON (Sputnik) - Former President Donald Trump's company Trump Park Avenue LLC is asking the New York Supreme Court to lower the property taxes on the retail space of his tower at 59th Street and Park Avenue, court documents revealed.
"The said assessments are excessive in that (a) the assessed valuation exceeds the full value of the real property," the court document said on Friday.
US media reported that Trump's Park Avenue retail property is currently estimated at about $12.2 million in market value, which results in an annual property tax bill of $520,000.
In this Friday, Nov. 20, 2020, file photo, President Donald Trump listens during an event in the briefing room of the White House in Washington. - Sputnik International, 1920, 05.10.2021
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According to the court document, Trump's company argues the property value for his Park Avenue tower is substantially higher than the assessed value of other properties in New York City.
Trump's legal team claims the assessments are illegal because they have been wrongfully denied a hearing to correct the property value in question.
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