ANDERSON – The Mounds Mall in Anderson and the land on which it sits have been tentatively sold to new owners. Our partners at The Herald Bulletin report the building and property were sold to different owners Monday at the Madison County certificate sale for a total of $17,000.
The building was acquired for $12,000 by Mark Squillante. Two parcels of land that cover the Mounds Mall property were sold for a total of $5,000.
The mall property is currently owned by the Cook family, which has been looking to offload the property for more than a year. Last month, the family reached a deal to sell the property to Baumann RE LLC for $3 million.
HOBART — Tax abatement has been finalized in association with Albanese Confectionery Group’s latest production expansion.
Albanese is investing about $60 million in manufacturing equipment for gummies and chocolate, and the company plans to begin the operations expansion project “almost immediately” now that the City Council has completed the traditional 10-year personal property tax abatement request, Mayor Brian Snedecor said.
SOUTH BEND — The South Bend Common Council unanimously approved property tax breaks for six business development projects Monday night, including two that especially signal a strong local economy, a city administration staffer told the council.
The real and personal property tax abatements, combined, will give the businesses more than $7.6 million in tax discounts in exchange for creating 62 new jobs, or $123,161 of tax reduction per new job.
Indiana recently amended certain provisions of its state statutes and regulations relating to the state’s real property tax sale notice requirements and dollar amount threshold for high cost loans. These changes are effective July 1, 2018.
Downtown property owners are getting closer to voluntarily taxing themselves so they can raise more than $3 million a year over the next decade to improve the Mile Square.
Downtown Indy Inc., the city marketing organization leading the move, has more than half the signed petitions it needs for the tax to pass. Downtown Indy President Sherry Siewert said she is confident in getting the rest of the required signatures.
Thousands of residents in central Indiana pre-paid their property tax bills before Jan. 1, resulting in more than $31 million in early payments, according to research by IBJ.
It’s not clear how many of the payments were being made early to try to take advantage of an income tax deduction that will soon change because it’s not unusual for some people to pay in advance, but the amount of early payments marked a significant increase for some areas.