City Assessor Seems to Have Good News for Lisa Cook

Ann Arbor official doesn't think she violated property tax laws, reports Reuters
Posted Sep 16, 2025 1:49 PM CDT
City Assessor Seems to Have Good News for Lisa Cook
Federal Reserve Board of Governors member Lisa Cook in a file photo.   (AP Photo/Mark Schiefelbein, File)

Federal Reserve Governor Lisa Cook has not violated property tax rules for her Ann Arbor home, according to Michigan officials—an assessment that could shape the ongoing legal and political battle over her place on the Fed board, reports Reuters. The city assessor tells the outlet there's "no reason to believe" Cook broke local tax laws, even though she sometimes lived elsewhere and occasionally rented out the property. Temporary absences or short-term rentals do not automatically disqualify a homeowner from receiving the city's principal residence exemption, said Jerry Markey.

The issue is at the heart of President Trump's push to fire her from the board. Administration officials allege Cook misled lenders by claiming two homes—one in Michigan and another in Atlanta—as her primary residences to get preferable mortgage rates and tax treatment. The Federal Housing Finance Agency's director, Bill Pulte, has taken the lead in these allegations, referring the case to the Department of Justice.

However, local records in Georgia indicate Cook never sought a primary residence tax exemption there, and a loan estimate shows she listed the Atlanta home as a "vacation home," per Reuters. Legal experts note that to pursue a mortgage fraud case, prosecutors would need to prove Cook knowingly deceived her lenders—a bar rarely met in these situations. Cook's mortgage rates also did not undercut prevailing market rates at the time.

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A federal appeals court on Monday blocked the Trump administration's effort to fire Cook, but further legal wrangling is expected. Cook, who has denied wrongdoing, says the allegations are based on "cherry-picked social media posts." The White House doubled down on its push to remove Cook in a statement to Quartz on Tuesday, suggesting that the Supreme Court is almost certain to decide her fate.

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