Here's what's wrong with her post.
Per GAAP (Generally Accepted Accounting Principles) you ALWAYS use Fair Market Value to value your real estate assets. Fair Market Value, what the MARKET will bear.
She's comparing Trump's FMV that he used in the financial statements to the "appraised value".
First, she doesn't state where this appraised value comes from.
Secondly, she doesn't state what this appraised value was used for.
But thridly, and more importantly, an "appraised" value is NOT GAAP!!!
GAAP is using the FMV. That's it. That's the argument.
But her statement is so very flawed because I think the appraised value she's using comes from the County Assessor's appraised value. And that is so fucking ludicrous it's absolutely laughable in court!!!
If it were the case that you're supposed to limit the FMV on your financial statements to the county assessors "appraised" value, then EVERY.SINGLE.FINANCIAL.STATEMENT would be deemed FALSE!!!