According to myfoxpointnow, Milwaukee, Wis.-based MHC owner Asset Development Group’s value was assessed nearly seven times more in 2008 and 2009 than in the following two years due to failure to file a statement of personal property for the earlier years. While the firm has paid its taxes for 2010 and 2011 in the village of Fox Point, WI, unpaid taxes for its assessed valuation of $522,800 and $668,800 in ’08 and ’09, respectively, continue to accrue, and the bill is now up to $47,926. Despite repeated phone calls and statements from the village treasurer and the assessor to the company during that two-year period, there was no response. Asset Development’s new CFO, James McKevitt, blamed past mismanagement for the problems, saying the previous CFO is facing charges of embezzlement. While the village is considering litigation, KcKevitt sent a $7,157 check based on a previous valuation, asking that it be considered payment in full. Asset Development’s Dirk Hausmann, while acknowledging past missteps, says “This is one of several problems that have been on our plate,” he said of the delinquent taxes. “It’s not the character of the company to just ignore this sort of thing.” As MHProNews has learned, the village board may consider the matter in the future. Fox Point borders Lake Michigan just north of Milwaukee.
(Photo credit: progressive housing)