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He then re-classified himself as an employee to legally live there full time.
Due to these deed restrictions, the property is currently valued as a private club by Palm Beach County.
The first logical question that must be asked: could the deed legally be reversed?
That depends who you ask.
Its rational to assume that whatever legally constitutes abandonment could eventually be under a microscope.
Whether Mar-a-Lago should be appraised as a private club or a residential home is not for us to decide.
But lets take a look at both scenarios.
So what factors contribute to this appraisal?
Speaking toNewsweek, the Palm Beach County Property Appraisers Office said they use the income approach.
The income approach to valuation capitalizes the net operating income that private clubs could generate.
This assessed value does not take intoaccount market conditionsor whose name is on the property.
If the club were put on the market, however, a sales comparison could also be utilized.
Former investment banker John Lefevrecitedan empty, 2.3 acre lot in the area listed at $200 million.
Mar-a-Lago is 17 acres.
If deemed legal to down-zone Mar-a-Lago to a residential home, the property scores well on all components.
If you have residential land all around you, thats highest and best use.
This would also increasenearby property valuesby eliminating traffic congestion and protestors.
Perhaps time will tell.
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