Banks don't loan money based on what ANYONE says property is worth or for that fact, what ANYTHING is worth they use as collateral. They hire APPRAISERS to do that task, and that is the number used to make loans.
Same with property taxes. A GOVERNMENT APPRAISER sets the value for taxation purposes. And you don't pay INCOME taxes on property value, so there is NOTHING there to "defraud" anyone with.
Either this lawyer of Trump's is a friggin' IDIOT or he needs to find someone who understands and can argue these easy to understand FACTS.