Despite rich value of Trump National Golf Club in Jupiter, Trump loses tax appeals

President Donald Trump’s golf club here is among the mostly richly valued courses in the county, a fact that would seem to bolster his argument that he’s routinely overtaxed on the Trump National Golf Club.

However, special magistrates twice have ruled against Trump’s appeals of his property tax bill to the Value Adjustment Board. And experts in golf course appraisals say valuing the properties can be a tricky task.

 

Jupiter Golf Club LLC, owner of the Trump National Golf Club in Jupiter, this month sued the Palm Beach County Property Appraiser to contest the course’s taxable value of $18.4 million.

That estimate means the property appraiser values the course’s 131 acres of land zoned for golf at $140,802 per acre. Only the Palm Beach Country Club — located just a chip shot from the ocean — is worth more, at $149,956 per acre.

By that calculation, Trump National Golf Club in Jupiter is worth more per acre than every other course in the county, including St. Andrews Country Club in Boca Raton ($119,450 per acre) and the Breakers’ course in Palm Beach ($113,055 per acre).

While Palm Beach County houses near the ocean are valued at a premium, experts on valuing golf courses say a prime location isn’t always the main driver of value.

“Forget about price per acre. Forget about closer to the ocean,” said Larry Hirsch, an appraiser in Pennsylvania and author of Golf Property Analysis and Valuation: A Modern Approach. “The way you evaluate a property like that is based on its economics, and how much money it makes.”

Author: Jeff Ostrowski

Jeff covers the economy, banking and biotech for The Palm Beach Post.

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