Legal advertisements for 158 Martin properties are running in the Rome News-Tribune today.
“We’re going to come through, our timing is just not good,” Martin said. “We had a big closing that didn’t happen. It was supposed to happen in July, plus our collections are just awful.”
Floyd County Tax Commissioner Kevin Payne said Martin owes back taxes for 2009-2011, and by the middle of next month will owe for a fourth year. Payne said he has had discussions with Martin and that the real estate executive has promised to bring in a “sizeable” check soon.
“He is supposed to at least pay me the oldest year, which is usually in these things about half of it,” Payne said. “If he does that it would buy him a little time. If he pays two years that would be good. If he pays just one year, I will remove him from the tax sale temporarily, but Nov. 16 of next month he’s going to owe three years again, which means I’ll be putting him back on the tax sale for next year.”
Payne said that if Martin pays his 2009 taxes, that would amount to approximately $330,000, which includes the cost of legal advertising.
“If he does just that, it will buy him a little bit of time,” Payne said.
Martin declined to give an estimate of how much he was going to be able to pay before the Nov. 6 sale date.
“Our local folks are working with us but the banks that got taken over, of course, they can’t show any mercy. They can’t work with you at all,” Martin said. “We’re hit in so many different ways.”
The proceeds of any payment Martin brings in would benefit the city of Rome, Floyd County and both school systems, though Payne could not specifically break out the various figures. The tax commissioner said Martin has brought in payments for perhaps as many as 20 properties already during the course of the past year.
He properties listed for possible inclusion in the sheriff’s tax sale range from small residential lots up to a 153-acre tract on Halstead Smith Road and an 82.3-acre parcel on Tom Bing Road. Four downtown properties are included on the list as well: 404 and 405 Tribune St., along with 205 and 324 Broad St.
Martin said the mere fact that legal advertisements are running will send some tenants looking for other locations but that this was just a matter of timing.
“We’ll get it taken care of, but the time for keeping it from being advertised just ran out,” Martin said.