X: Mack’s Auto Sales

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X ) Property sale/ Mack’s Auto Sales from Elizabeth Ragland Boyle

( given an immediate unexplained huge discount, then inexplicably discounted again the same year new City of Marion HUB TIF District is created )  Documents

  1. In June of 2005, Mack’s Auto Sales purchased a 4 acre tax parcel from Elizabeth Ragland Boyle. This prime commercial propertyislocated at 914 West Main Street in Marion, Illinois.

  2. P-TAX records confirm that the purchase price was $ 425,000.00. Property record cards also confirm that this sale was not an “arms length transaction”. ( see documents referred to as Exhibit X )

  3. Courthouse records further show that there are two large commercial buildings on the paved property. The first is approximately 18,000 sq. ft. and was built in 1969, including two later additions and improvements . ( in 1973 and 1991 ) It housed Mack’s Super Foods for several years, and currently houses the busy “ Borowiak’s IGA” grocery supermarket.

  4. Courthouse records show that the second commercial building located on this tax parcel is approximately 7,800 sq.ft. and was built in 1987. It housed the Hook’s Drugstore for years, and is currently leased to a thriving Christian bookstore called “Handfuls on Purpose”.

  5. This property is located on the north side of West Main Street in Marion directly across from the City of Marion’s new multi million dollar project, “Lazy River Recreation Center,” currently under construction. The property is certainly not economically obsolete or disadvantaged.

  6. The fair cash value assessment of this large 4 acre property with the two commercial buildings was $ 1,340,112.00 on the 2005/2006 year tax bill, also the year of the non arms length purchase.

  7. The Williamson County Tax Assessor, Jeff Robinson, would provide no answers when asked why this prime commercial property received two huge tax reductions in 2006 and 2010.

  8. The Williamson County Tax Assessor inexplicably reduced the fair cash value of this property to $ 824,160.00 for the 2006/2007 tax year.

  9. The Williamson County Tax Assessor further reduced the fair cash value of this property to only $ 671,280.00 for the 2010/2011 tax year after a Board of Review Hearing. Williamson County Commissioners were not available for comment or answers as to why.

  10. Interesting to note that in 2010 the new City of Marion Hub TIF District was created, and this property was included. Clearly, the lower the EAV tax base is at the inception of the TIF, the greater the opportunity for that TIF district to siphon off future tax revenue on that property.

  11. The large commercial buildings on this property are 44 and 26 years old respectively, and appear to be in the expected condition, and obviously are both in use and producing income. As mentioned, both buildings house active businesses.

  12. Using a very conservative $ 50.00 per sq. ft. cost approach would set a cost value of $ 900,000.00 on the supermarket building, and a cost value of $ 390,000.00 on the bookstore building, for a combined total of $ 1,290,000.00. Figure in a liberal 50% depreciation factor, ( $ 25.00 per sq. ft. ) and you have a current combined fair cash value of $ 645,000.00 for the commercial buildings. Add a conservative $ 20,000.00 for paving and the ( very low ) 2012 land value assessment of $ 330,480.00 for the 4 acres and you have a lowest possible total fair cash value assessment of $ 995,480.00.

  13. Arguably, a very conservative fair cash value of $ 995,480.00 for the 2013/2014 tax year is plausible and supportive with facts. ( compare to the $ 1,340,112.00 value for the 2005/2006 tax year )

  1. The rough low estimate of tax monies the county taxpayers have been defrauded of on this property alone in eight years is approximately $ 45,000.00…………likely much higher.

( View Exhibit X Documents )

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