Trump Tower Tax Reporting Shows ‘Inconsistencies’

Donald Trump’s business reported conflicting information about a key metric to New York City property tax officials and a lender who arranged financing for his signature building, Trump Tower in Manhattan, according to tax and loan documents obtained by ProPublica. The findings add a third major Trump property to two for which ProPublica revealed similar discrepancies last month.

In the latest case, the occupancy rate of the Trump Tower’s commercial space was listed, over three consecutive years, as 11, 16 and 16 percentage points higher in filings to a lender than in reports to city tax officials, records show.

For example, as of December 2011 and June 2012, respectively, Trump’s business told the lender that 99 percent and 98.7 percent of the tower’s commercial space was occupied, according to a prospectus for the loan. The figures were taken from “borrower financials,” the prospectus stated.

View the complete November 28 article by Heather Vogell from ProPublica on the National Memo website here.