it's either one or the other and it's fraud either way.
You can have two different valuations in regard to taxable value and retail value. In fact, that is the norm. Again, I’m not commenting on Trump specifically. I’m commenting on what you said.
The tax assessment on my home is
significantly less than what a bank would give me for a home equity line. Like a really really significant difference.
And with a rental/investment property there’s
actual income that would be taxed and
potential income which is higher, that a bank might use to place a value on the property.
Also, let’s say you’re getting a loan to make improvement. The bank might base it’s loan on the value of what the property will be
after the improvements are made but you’d only be paying taxes on the current value.