17:56 GMT +319 October 2019
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    Republican presidential candidate Donald Trump reacts to a question posed by an audience member at Politics and Eggs in Manchester, N.H., Wednesday, Nov. 11, 2015.

    How Rich is He? Trump Qualified for a Tax Break for Making Under $500K

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    According to thehill.com, Republican presidential candidate Donald Trump qualified for a state property-tax break for people who make $500,000 or less.

    According to the New York Department of Finance, The program Trump qualified for, the New York State School Tax Relief Program (STAR), offered him a $302 annual benefit for his Trump Tower property-tax bill, reports thehill.com.

    Republican Presidential candidate businessman Donald Trump (L) speaks next to Texas Senator Ted Cruz during the Republican Presidential debate sponsored by Fox Business and the Republican National Committee at the North Charleston Coliseum and Performing Arts Center in Charleston, South Carolina on January 14, 2016
    © AFP 2019 / TIMOTHY A. CLARY

    While Trump's precise net worth is unknown, the STAR benefit indicates it would be below $500,000. However, his annual property-tax bill is $175,544. If that is correct, it means the candidate puts a large share of his income toward taxes.

    An employee at the Marcum accounting firm stated that there are a number of legal ways a real-estate investor can lower the amount of reported income.

    "A person like Trump has options for reporting income that most people don't have," Perry said.

    Trump released a June 2015 financial statement stating his net worth was $8.7 billion. A month later, a press release from his campaign office stated his net worth "in excess of ten billion dollars."

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    property, tax breaks, New York State Department of Financial Services, Donald Trump, New York State, United States
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