Mounds Mall in Anderson is back on the tax sale rolls, but The Herald Bulletin reports the owner is hopeful it will be removed before Madison County holds its tax sale on September 23. Mark Squillante purchased the Mounds Mall in September 2012 for $12,000 after the previous owners decided not to redeem the property.
The publication says the current taxes owed are nearly $570,000 by Holliday LLC on the building and the Elda Corp. owes approximately $135,000 on the land.
“We’re going to petition the court to remove the property from the tax sale. It shouldn’t be on the tax sale list,” said Squillante. “We couldn’t lease space or start renovation work until the lawsuits were resolved.”
The Herald Bulletin says Squillante has filed two appeals on the $4.2 million assessed value of the property with the county’s Property Tax Assessment Board of Appeals.
The Mounds Mall was closed permanently in April 2018. Squillante says he is currently seeking investors for the revitalization of the Mounds Mall. He’d like to convert the former mall into an event and entertainment center.
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