Heather Curtis
WASHINGTON – There’s a big discrepancy between Loudoun County’s assessed value of the Trump National Golf Club in Sterling and the number in Donald Trump’s federal election filings. Trump put a $50 million price tag on the club, while the county’s assessment comes in at far less – $23 million.
“I have no idea what the basis of the reporting for the Federal Election’s Commission reports is. Maybe he was taking his investment in the property over time,” said Loudoun County’s Commissioner of Revenue Bob Wertz.
Trump bought the property in 2009. Since then, he has spent $25 million making upgrades and shelled out another $10 million to build a tennis center.
Wertz said income is the biggest determinant in value for commercial property. While the county knows how much the club makes in revenues, Wertz said that number isn’t public information.
Another factor the county looked at when coming up with the $23 million figure was the value and income of similar properties. In this case, the property was compared to the River Creek Club in Sterling and the Belmont County in Ashburn. Each is assessed at around $13 million.
Trump has missed two opportunities to appeal the assessment but can still appeal in circuit court. He has three years to file that appeal.
Copyright 2016 by WMAL.com All Rights Reserved. (Photo: CNN)
