Reuters: “The Manhattan District Attorney’s Office has subpoenaed a New York City property tax agency as part of a criminal investigation into Donald Trump’s company, the agency confirmed on Friday, suggesting prosecutors are examining the former president’s efforts to reduce his commercial real-estate taxes for possible evidence of fraud. The subpoena issued to the New York City Tax Commission is the latest indication that Manhattan District Attorney Cy Vance Jr. is looking at the values Trump assigned to some commercial properties in tax filings and loan documents.”
“Along with information already subpoenaed from creditors, the tax agency documents would help investigators determine whether Trump’s business inflated the value of his properties to secure favorable terms on loans while deflating those values to lower tax bills for those same properties. New York City Tax Commission President Frances Henn confirmed the subpoena in response to an inquiry from Reuters. The subpoena likely would compel the agency to provide detailed income and expense statements the Trump Organization would have filed as part of an effort to lower tax assessments on some of its commercial properties, according to people familiar with the commission’s operations.”