County nets $21 million in Settlement with Glenbrook Mall

By on May 11, 2013

Seal of the Board of Commissioners of the County of Allen

News release from the Allen County Assessor:

County nets $21 million in Settlement with Glenbrook Mall
Assessor stands ground to ensure fair assessment

(May 10, 2013) – Allen County Assessor Stacey O’Day announced the County’s settlement with General Growth Properties, the owner of the Glenbrook Mall, over property tax assessments which extend over the past decade. Glenbrook contested approximately 23 million dollars in property taxes paid from 2002 to the current year. Those amounts were distributed to the various tax units in Allen County. In the settlement, the company agreed to relinquish its claim to over 20 million dollars of the nearly 23 million dollars in dispute. The current assessment for the Glenbrook Mall stores, including the main mall property, is $155,138,000. The mall owner’s most recent proposed assessment was only $65,000,000, submitted in 2008.

Assessor O’Day said that the decision to settle the dispute came down to common sense:

“We were able to settle ten years of appeals by retaining nearly 90% of the 23 million dollars in dispute, all of which had been collected over the years and distributed to the tax units. The return to General Growth Properties of 10% of the amount it paid reflects our attorneys’ assessment of the risk inherent in any litigation. While confident that we would have prevailed in that litigation, the risk of an adverse judgment to the schools and other governmental entities, along with the litigation costs we would have incurred, led us to conclude that this was the responsible and prudent course. We are quite pleased with the outcome.”

The exact amount retained by the County tax units in the settlement is $20,323,328. The County will return $2,416,614 to General Growth Properties which payment will conclude the litigation. The settlement removes the uncertainty faced by the county’s tax units who might have been called upon to repay the approximate 23 Million dollars in dispute. “This settlement did not come easy. We stood firm for the taxpayers and the tax units. We negotiated from a position of strength knowing that my staff had done an excellent job determining the assessed value of this extremely complex piece of real estate. The successful end to the litigation is a credit to their skill and effort. Finally, we appreciate Glenbrook’s willingness to negotiate this settlement in good faith. We are grateful to have this successful business operation located in Allen County and we wish for its continued success,” O’Day said.

General Growth Properties is among the County’s largest taxpayers. The company pays approximately $4.5 million dollars in annual property taxes which are then divided among all of the tax units based upon the tax levies for each.

 

About Stephen Parker

Stephen Parker is the blogmaster for AroundFortWayne.com. He believes that everyone should have access to information, interviews, and videos of events that are, "Straight from the source". When not blogging, he enjoys outdoor activities in his adopted home, Fort Wayne Indiana. He moved here in late 1989 and hasn't looked back.

Facebook

Twitter

YouTube

Google Plus

Follow Me on Pinterest
  • A group of House Republicans criticized the Obama administration Wednesday over news that schools are cutting their employees' hours to avoid providing health insurance. Read more: http://thehill.com/blogs/healthwatch/health-reform-implementation/305073-gop-schools-cutting-workers-hours-to-avoid-obamacare-penalty

    Pinned: 13 Jun 2013
  • Mayor Bloomberg’s $12 million ad blitz to drum up Senate support for background checks on all gun purchases could backfire, Senate strategists said Monday.

    Pinned: 26 Mar 2013
  • Article about smart parking.

    Pinned: 25 Mar 2013
  • US Congressman Marlin Stutzman (R-IN 3rd): “This Budget Debate Goes Deeper than Spreadsheets and Focuses on the Longevity of the American Dream”

    Pinned: 20 Mar 2013
  • "What's a severe thunderstorm or tornado watch?" "How's it different from a warning?" "What actions should be taken when a watch is issued?" Get the answers to these frequently asked questions here!

    Pinned: 5 Mar 2013
  • “The President’s doomsday scenarios are of his own choosing,” Rep. Marlin Stutzman, R-Ind., argued in response to Cutter’s email. “The sequester will cut 2.3 percent, or $85 billion, from the massive $3.55 trillion the federal government is projected to spend this year alone. To put that percentage in perspective, we borrow that much money every 28 days. If the President can’t cut that much, he’ll never cut anything.”

    Pinned: 5 Mar 2013
  • Photos and Video from the 2009 Get Green event.

    Pinned: 4 Mar 2013
  • Multimedia weather briefing concerning the winter storm to impact the area Thursday night into Friday. Created at 4:00pm Thursday 2/21/13.

    Pinned: 21 Feb 2013
  • Preliminary renderings from the City of Fort Wayne for the State Boulevard project.

    Pinned: 20 Feb 2013
  • Squad cars adding cameras, license plate readers

    Pinned: 20 Feb 2013

Instagram

Follow Me on Instagram
  • Photos from today's Historic West Main Street Antique Show which goes until 5:00 this afternoon. More photos here - http://www.aroundfortwayne.com/?=54106

    aroundfortwayne: "Photos from today's Historic West Main Street Antique Show which goes until 5:00 this afternoon. 
More photos here - http://www.aroundfortwayne.com/?=54106"
    7
    0
  • Paddling around in a downtown fountain as part of the Fort Wayne Adventure Games.

    aroundfortwayne: "Paddling around in a downtown fountain as part of the Fort Wayne Adventure Games."
    11
    0
  • TinCaps president Mike Nutter with Johnny after last night's game. @tincaps

    aroundfortwayne: "TinCaps president Mike Nutter with Johnny after last night's game. @tincaps"
    7
    0
  • From last night's giant flag celebrating our Regional Cities Initiative unveiling at Patkview Field by the Northeast Indiana Regional Partnership. @greaterfortwayneinc @tincaps

    aroundfortwayne: "From last night's giant flag celebrating our Regional Cities Initiative unveiling at Patkview Field by the Northeast Indiana Regional Partnership. @greaterfortwayneinc @tincaps"
    8
    0
  • Dan Wire is getting ready for his presentation at the Envision Fort Wayne Center -- join us!

    aroundfortwayne: "Dan Wire is getting ready for his presentation at the Envision Fort Wayne Center -- join us!"
    10
    0
  • Lunch on the Plaza is in full swing!

    aroundfortwayne: "Lunch on the Plaza is in full swing!"
    5
    0
  • Mayor Henry flushing out the old water as City Utilities add another 4,000 water customers in Aboite.

    aroundfortwayne: "Mayor Henry flushing out the old water as City Utilities add another 4,000 water customers in Aboite."
    13
    0
  • Now that's a big Johnny! @tincaps

    aroundfortwayne: "Now that's a big Johnny!

@tincaps"
    14
    0
  • Just a teaser, from the 765 excursions from Fort Wayne earlier this month. For the full video clips and photos, surf into - http:\\www.aroundfortwayne.com/?p=53872

    aroundfortwayne: "Just a teaser, from the 765 excursions from Fort Wayne earlier this month. For the full video clips and photos, surf into -
http:\\www.aroundfortwayne.com/?p=53872"
    5
    0
  • Instagram doesn't do justice to panorama shots. Check out the full, shimmering photo here: http://www.aroundfortwayne.com/blog/?=53844

    aroundfortwayne: "Instagram doesn't do justice to panorama shots. Check out the full, shimmering photo here: 
http://www.aroundfortwayne.com/blog/?=53844"
    10
    0