Donald J. Trump looks out after a meeting with military leadership at the Mar-a-Lago club in Palm Beach, FL
Jabin Botsford | The Washington Post | Getty Images
President Donald Trump’s latest financial disclosure report reveals a drop in income at his Florida luxury resort Mar-a-Lago.
The report, released Thursday, is required to be filed annually with the Government Ethics Office. It covers the president’s finances for 2018, his second year in office.
Trump declared on the form that last year he received a 30-year mortgage loan of $5 million to $25 million in 2018 from Professional Bank, a small Florida bank, for a property identified as 1125 South Ocean LLC. The mortgage loan was granted at annual interest rate of 4.5% for the propery, which was purchased last year.
Reuters noted that the property is a house close to Mar-A-Lago and is listed on a real estate website as being available for rent for about $81,000 per month.
According to the report, Trump had $22.69 million in income from Mar-a-Lago last year, a $3 million decrease from 2017.
But at his Doral golf resort, also in Florida, Trump had $75.96 million in income, up about $1.4 million from 2017.
Income from his golf resort in Bedminster, New Jersey, was up only slightly, to $15.73 million, an increase of more than $500,000 from the prior year.
The president also booked a modest increase in income at his hotel at the Old Post Office building in Washington, with $40.84 million last year, less than a $500,000 increase from 2017.
His disclosure filing also reveals that Trump sold property in the Dominican Republic for between $1 million and $5 million in Juary 2018.
Correction: An earlier version misstated income changes from 2017 to 2018 at several properties President Donald Trump owns, including his hotel at the Old Post Office in Washington.