Agreements to pay back taxes on Mounds Mall and the Wigwam should give Madison County a financial boost while setting both properties on the path to resurrection.
In late August, Wigwam Holdings reached an agreement to pay $300,000 in delinquent property taxes — $30,000 a month for 10 months. The first payment was made in early September.
“They (Wigwam Holdings) seemed sincere in wanting to resolve the issues,” said Madison County Treasurer Danny Girt.
The agreement will keep the fabled former Anderson High School gym, which is being redeveloped as a business/community venture, off the tax sale list this year.
Wigwam Holdings is still appealing its property value assessment for 2016, ‘17, ‘18 and ‘19, but Indiana law requires that taxes are paid while appeals are pending. Earlier this year, the Indiana Tax Court denied Wigwam Holdings’ appeal to change the assessed value for its 2015 property taxes.
It the state tax review board rules in favor of Wigwam Holdings’ pending appeals, Madison County will be required to reimburse the company for the excess tax charged.
Wigwam Holdings was deeded the complex from Anderson Community Schools in 2014 and was given $630,000 for facility upgrades.
The company filed an appeal in 2016 with the county in an attempt to reduce the assessed value from $11.4 million to $68,500. The county board reduced the assessment to $2.1 million.
Property tax arrears for another iconic local property, the former Mounds Mall, were addressed this summer, as well.
The Cook family, which owned the property, paid $301,027 in property taxes on the 32 acres where the mall is located. The payment paves the way for the new owner, Florida businessman Mark Squillante, to repurpose the property for commercial and retail enterprises.
The mall was closed in the spring of 2018.
Payment of delinquent taxes at both the mall and the Wigwam move both properties a step closer to redevelopment.