By: Diane Benjamin
In 2019 the Net Taxable Value of the mall was $10,666,667. Property taxes paid were $901,454.96.
The Net Taxable Value now is $6,666,667. That represents a property tax loss of $344,257.60.
The City of Bloomington thinks downtown can be a destination if millions are spent. Meanwhile a huge white elephant is sitting on the east side where hoards drive by every day. Local units of government will continue to lose money on this property. Where’s the Economic Development Department? Economic Development Council?
Don’t forget your taxes are higher to cover this loss. Government isn’t capable of ever collecting LESS money.
Property Taxes paid:
Owners:
I’ve heard that the mall owners keep it empty despite the help the EDC and Chamber and City has offered to get it filled and thriving again. They use it for the tax benefits of the huge loss. They own plenty of other malls and those malls are all doing just fine.
Eastland mall should be converted into a regional migrant processing center / shelter.
That would fix the population decline. Unvetted illegals is perfect
I’m down with an illegal alien detention center til another bus arrives that can take them back to their homeland.