“The New York City Tax Commission has received a subpoena from the Manhattan District Attorney regarding Trump Organization properties,” Laura Feyer, spokesperson for the mayor of New York, who also speaks on behalf of from the office of the property tax agency.
Feyer did not comment further on the matter. Manhattan District Attorney’s Office Cy Vance declined to comment. CNN has contacted the Trump Organization for comment.
Vance’s office is investigating whether the Trump organization has violated state laws, including insurance fraud or tax evasion. His team of prosecutors are investigating what the Trump Organization has told lenders and tax authorities about the value of its assets and the legality of tax deductions, including conservation easements and consulting fees the company has taken.
Investigators are also looking at many loans taken out by the Trump Organization, including those from Deutsche Bank and Ladder Capital, CNN reported this week.
Meanwhile, prosecutors are awaiting a Supreme Court ruling on a grand jury subpoena to Trump’s accounting firm, Mazars USA, for his financial records, including his tax returns.
The subpoena issued to the New York City Tax Commission, which reviews annual property tax assessments prepared by the Department of Finance, is a further sign that prosecutors are looking to see if Trump’s firm has induced the local tax authorities in error on the value of its properties.
The New York City Tax Commission reviews requests to correct tax assessments and whether claimants have been wrongly denied a property tax exemption.