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State denies Maine Mall's valuation appeal
The state has again denied the owners of the Maine Mall an appeal that seeks to lower its property tax valuation made by the city of South Portland.
The Forecaster reported that the appeal by the Chicago-based General Growth Properties of its $242 million valuation, for 2009, was denied by the state's Board of Property Tax Review because the company did not provide appraisals made as part of its bankruptcy proceedings in that year.
The paper reported that the state board has previously denied the company's 2006, 2010 and 2012 appeals as well.
In its latest appeal, the company sought to reduce its valuation by $60 million, a reduction that, if approved, would have required the city to return approximately $900,000 in property taxes to the company.
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