“The New York City Tax Commission has received a subpoena from the Manhattan district attorney regarding the properties of the Trump Organization,” Laura Feyer, spokeswoman for the mayor of New York, who also speaks on behalf of the agency’s office, told CNN property taxes.
Feyer did not comment further on the matter. The Manhattan district attorney’s office, Cy Vance, declined to comment. CNN contacted the Trump Organization for comment.
Vance’s office is investigating whether the Trump Organization has violated any state law, including insurance fraud or tax fraud. His team of prosecutors is investigating what the Trump Organization has told creditors and tax authorities about the value of its assets and the legality of tax deductions, including conservation easements and advisory fees the company has taken on.
Investigators are also investigating several loans the Trump Organization has made, including those from Deutsche Bank and Ladder Capital, CNN reported this week.
Meanwhile, prosecutors are awaiting a Supreme Court decision on a grand jury summons to Trump’s accounting firm, Mazars USA, for its financial records, including its tax returns.
The subpoena issued to the New York City Tax Commission, which reviews the annual property tax assessments set by the Department of Finance, is another sign that prosecutors are investigating whether Trump’s business has misled local tax authorities about the value of your properties.
The New York City Tax Commission examines requests for correction of tax assessments and whether applicants have been unduly denied property tax exemption.