S: Marion Discount LLC

S ) Property sale / Marion Discount LLC, a Delaware corporation from FD Marion Illinois 800 West Main LLC, an Illinois LLC., from Mack’s Auto Sales, Inc.  Documents

( $ 347,272.00 discounted on the published 2013/2014 tax bill )

  1. In August of 2012, Macks Auto Sales, Inc. sold the corner part of the prime commercial corner lots on the northwest corner of Illinois Route 37 ( Court Street) and West Main Street in Marion, Illinois to FD Marion Illinois 800 West Main, LLC. ( property directly across from the new CVS pharmacy )

  2. P-TAX records confirm the total purchase price for ( only part of ) these five parcels was $ 325,000.00. ( see documents referred to as Exhibit S )

  3. In August of 2012, FD Marion Illinois 800 West Main, LLC. ( aka the Family Dollar Store ) took out a mortgage for $ 881,250.00 and began constructing the new facility.

  4. In February of 2013, the building was finished and the new Family Dollar Store was open for business.

  5. The Williamson County Tax Assessor created four new tax parcels for this transaction, with two for FD Marion 800 West Main, LLC. and two for Janes Properties, Inc. ( Mack Janes , who originally owned all of, and retained part of his property in the sale to FD Marion 800 West Main, LLC. in August of 2012. See # I above, as Mack Janes placed the remainder of the Macks Auto Sales, Inc. property into Janes Properties, Inc. in the interim.)

  6. In an inexcusable departure from the normal and expected assessment requirements, the Williamson County Tax Assessor did not reassess this property to reflect the obvious and actual fair cash land value, aka purchase price of $ 325,000.00, for the vacant land for the 2013/2014 tax year.

  7. The Williamson County Tax Assessor assessed the combined total fair cash land value of this property for the 2013/2014 tax year as only $ 202,480.00.

  1. In addition, the Williamson County Tax Assessor assessed the finished building at a total fair cash value of $ 929,150.00. He then picked up only six months of that for the 2013/2014 tax year, ( $ 464,580.00 ) even though the building was obviously competed and open for business in February of 2013.

  2. Accordingly, the fair cash value assessment for the building, based on nine months, should have been $ 696,862.00 for the 2013/2014 tax year. Adding the purchase price of the land, $ 325,000.00 makes a total fair cash value assessment for the 3013/2014 tax year of $ 1,021,862.00. *

  3. Instead, the Williamson County Tax Assessor has assessed this property’s total fair cash value for the 2013/2014 tax year for only $ 674,590.00.

  4. The Williamson County Tax Assessor has given this property a discount of $ 347,272.00 for the 2013/2014 tax year.

  1. The rough estimate of tax monies the county has been defrauded of for the 2013/2014 tax year alone is approximately $ 8,000.00.

* In September of 2013, FD Marion Illinois 800 West Main LLC. sold the property to Marion Discount, LLC., a Delaware limited liability company. P-TAX records confirm that the total purchase price for this September of 2013 sale was $ 1,473,984.00. See documents included in Exhibit S.

T ) Property sale / HC Development, LLC. from Ramsey Furniture, Inc.

( given a $ 500,000.00 discount by failing to assess )

  1. In January of 2007, HC Development, LLC. purchased a large store building located on the north side of New Route 13 ( frontage road ) in Carterville, Illinois from Ramseys Furniture, Inc. ( locally aka Dushell’s Furniture.)

  2. P-TAX records confirm that the total purchase price for these three tax parcels was $ 1,100,000.00. ( see documents referred to as Exhibit T )

  3. The large structure’s interior had been stripped “to the bare bones” before the time of the sale.

  4. HC Development, LLC. procured two mortgages dated the same day of the sale both recorded on this property. One for $1,100,000.00 and the second for $ 500,000.00, presumably for the cost of remodeling the stripped interior of the building.

  5. At any rate, the Williamson County Tax Assessor failed to reassess this property to reflect its actual fair cash value based on the purchase price and the required complete interior renovation not only for the following tax year but all of the subsequent years to date.

  6. The property currently houses numerous businesses, strip mall style.

  1. The rough estimate of tax monies the county taxpayers have been defrauded of on this transaction to date is approximately $ 70,000.00.

( See Exhibit S Documents )

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