Marktplatz Mall Tax Trouble 06 Jun 12

Tax forfeiture proceedings have been initiated on the southern half of New Ulm’s Marktplatz Mall, as well as George’s Ballroom for 2008 property taxes owed. More than $61,000 is due in taxes for the two parcels, which are owned by Randy Danielson’s SEK Financial. The tax forfeiture filing will give ownership of the parcel to the State of Minnesota, which will then begin a process to give ownership back to Brown County for a sale. Brown County will then determine how it wants to proceed with the sale. The process is expected to take several months. The total Estimated Market Value for that half of the mall is $210,000, and for George’s Ballroom nearly $137,000. The other half of the mall is owned by 3 out-of-state real estate professionals who formed the New Ulm Retail and Development Limited Liability Corporation. They are reportedly going through legal disputes with Randy Danielson as well, leaving the future of the Marktplatz Mall uncertain.