May 26, 2010

Regency Mall sues city for $443,000

Regency Mall is suing the city for $443,000 in excessive property taxes.

According to court documents, the mall claims the city overassessed its properties at 5700 and 5502 Durand Ave. in 2009. The city assessed the property at $53.5 million. The mall believes its worth $34 million, according to records.

The $19.5 million difference equals $443,464.80 in property taxes. The mall wants the city pay back the difference plus interest and court costs.

Judge Richard Kreul  is presiding over the case.

Attorney Alan Marcuvitz of the Milwaukee-based firm Michael, Best and Friedrich filed suit on behalf of Regency Mall against the city on April 29.

Attorney John Bjelajac, who is representing the city, filed a response on May 11 asking the court to dismiss the claim. 

Regency Mall's property tax bill, which is split between Racine Unified, the city, the county, Gateway Technical College and the state, was $1,216,686 in 2009.

Regency Mall is listed as "Racine Joint Venture II LLC" in court records.