Trump National Golf Club Charlotte
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Trump has lowered his course's local property taxes by $167,000 by successfully arguing that the course's assessed value was too high.[1]
FAST FACTS Underlying Assets: Golf Club Location: Charlotte, North Carolina Purchase Date: April, 2012 Purchase Price: $3 million Reported Value: $5 million to $25 million Reported Income: $14,125,381 Website: trumpnationalcharlotte.com OVERVIEW Trump acquired the former Point Lake Golf Club outside Charlotte for $3 million in April of 2012. Trump claimed that the course was worth between $5 million and $25 million in his 2016 financial disclosure . Since acquiring the property, Trump has lobbied local officials to lower its assessed value from $22.7 million to $9.6 million. OWNERSHIP STRUCTURE Trump National Golf Club - Charlotte:
1% owned by TNGC Charlotte Manager Corp
100% owned by Donald J. Trump
99% owned by DJT Holdings LLC
99% owned by The Donald J. Trump Revocable Trust
1% owned by DJT Holdings Managing Member LLC
100% owned by The Donald J. Trump Revocable Trust
The Donald J. Trump Revocable Trust is managed for the "exclusive benefit" of Donald Trump.
Footnotes and Citations
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“In rural Iredell County, N.C., for instance, Trump's lawyers have argued successfully to shrink the taxable value of his course there since he bought it in 2013. The $167,000 annual reduction in revenue to the county is a "pretty big chunk," said Wes Long, an appraiser there, adding that the money comes from "whatever taxable money goes toward: salaries, raises, roads, schools, police." (Washington Post, August 21, 2016)”
