Since President Donald Trump’s full time residence is the White House — and not his Manhattan condo in Trump Tower — New York City officials recently determined he is no longer eligible for a $48,000 tax break, according to a report by the New York Daily News.
The tax break is available to condo and co-op owners in the city, but there is a catch: “A homeowner is only eligible for the tax break if the condo is his primary residence,” according to New York City Finance Department language cited by the publication. Since Trump moved into the White House on January 20, 2017, his primary residence has been the nation’s capital.
Trump received the tax break for the prior tax year, because he had lived in New York through Jan. 5. But for the 2018-2019 tax year, city officials have determined Trump can’t take the $48,834.62 exemption. The
“We have removed the exemption and have contacted the managing agent to update their records,” Finance spokeswoman Sonia Alleyne told The News Thursday. “Managing agents are required by law to inform the Department of Finance of primary residency changes.”
The full report by New York Daily News can be found on its Website.
source : CNBC