MASON CITY, Iowa – The owner of Southbridge Mall now owes more than $325K in back taxes.
County Treasurer Pat Wright said Tuesday mall owner Michael Kohan owes $328,888 in back taxes, and if he doesn’t pay $147,915 (if paid today) there will be a tax sale in June of 2019.
Wright said Kohan and the treasurer’s office have discussed a payment plan but have not agreed to terms.
Wright added that the city assessor’s office combined the four parcels of land where Southbridge Mall sits to two “in the best interest of taxpayers.”
Those in the community say they would like to see Mister Kohan treated the same way as anyone else who hasn't paid their property taxes.
"You and I don't get that kind of break on our taxes," said Joe Bartusek of Mason City. "That date comes and you better be at the court house. I don't understand why there are different rules for different folks."
City leaders say these unpaid taxes will not have an impact on the River City Renaissance project. City Administrator Aaron Burnett said these are past taxes where as the city will only receive revenue from the taxes years down the line when the project is complete.
We will have more on this story as it develops.
- Southbridge Mall owner now owes more than $325K in back taxes
- Southbridge Mall owner sued for back taxes
- Money owed by Southbridge Mall owner continues to skyrocket
- Tax sales paid on Southbridge Mall
- Southbridge Mall owner not paying back taxes because 'mall is failing'
- Mason City mall owners pay back taxes
- Ideas to re-purpose Southbridge Mall
- Back taxes on Southbridge Mall not a burden on River City Renaissance project
- Most popular ideas to revitalize Southbridge Mall released
- Is Southbridge Mall poised to make a comeback?