}

Tuesday, March 24, 2015

INCOME TAX CHEAT...AND PROPERTY TAX CHEAT: Steven Ingersoll Must Not Be One Of The "Little People"!

The fate of New York's "Queen of Mean", Leona Helmsley, was sealed in 1989 when a former housekeeper testified during Helmsley's federal income tax evasion trial that she heard Helmsley say: "We don't pay taxes. Only the little people pay taxes." 

Helmsley denied having said it. She received a four-year sentence and served 21 months in prison.

And it appears that convicted tax cheat and sullied charter school magnate Steven Ingersoll doesn't consider himself one of Leona's "little people" either. Although a financial agreement (advancing Ingersoll up to $250,000) executed in February 2015 between Ingersoll and Jan Geht requires Ingersoll to "pay all taxes and assessments levied" within thirty days after they become due, he has still not caught up on Bay City taxes for the seven properties providing collateral for the $250,000 line of credit. And three of the seven properties have received no tax payments in nearly three years.

On February 28, Miss Fortune broke the news about tax attorney Jan Geht's unusual $250,000 "future advance mortgage" line of credit agreement with his client Steven Ingersoll.  

Geht, a member of Steven Ingersoll's criminal defense team, provided access to a $250,000 line of credit secured by seven of Ingersoll's Bay City properties just days before the start of Ingersoll's federal fraud trial—with Geht's representative officially registering the "future advance mortgage" with the Bay County Register of Deeds office on February 10 as Ingersoll's jury was being selected.


While nearly $20,000 was paid to Bay City on March 2, Ingersoll still hasn't made a dent in curing the existing tax delinquencies for three of the seven properties, including the Farragut Campus of the Bay City Academy. Located at 301 N. Farragut, the building carries a delinquent tax debt of $8,037.85. In addition to the Farragut building, two other properties (1022 N. Birney and 1501 Center) pledged as collateral still have not received any tax payments.


County records show Ingersoll paid off $9,065.55 in delinquent taxes on his personal residence, the Turner House at 1514 Center Avenue (shown at left).

However, Ingersoll didn't drop a nickel to alleviate the tax delinquency on a home he owns directly across the street from his, the former Sanford Green Home at 1501 Center Avenue.


While Ingersoll had once announced plans to convert the historic residence into "executive apartments", the home now sits gutted and unoccupied.

















Ingersoll paid $2,355.17 on March 2 for another Center Avenue building, the Perry House, located at 2230 Center, leaving a balance of nearly $11,000 in delinquent taxes. In early 2013, Ingersoll boasted he would open the Perry House as another bed & breakfast by that summer..


Records for another residential property, 1515 6th Street, show Ingersoll paid nearly $1,179 on March 2, leaving a delinquent balance of $2,425 yet to be paid.

Somewhere under a bed, there's a shoebox stuffed with money!

5 comments:

  1. Wow...what more financial news on Mr. Ingersoll and his wife...Many people wonder where they got the money to pay for the 4 properties they did pay on March 2, 2015....and those were for 2013 taxes before they'd go to 18% APR. What will happen on April 10th, 30/31 days after the taxes were supposed to have been caught up on? Time will tell...

    ReplyDelete
  2. Oops... it's already 30 days since the "future advance mortgage" was granted... April 10th will be 60 days... Time will tell if Geht's Traverse City law firm will take some or all of those seven properties? Or modify the loan again...interesting to say the least...

    ReplyDelete
  3. Prison time starts when? Stealing from a school is stealing from kids.

    ReplyDelete
  4. Is there anyone around who does not think Ingersoll and his wife are the worse type of slime?

    ReplyDelete
  5. The answer to the question above: Surely, Mark Noss, Brian Lynch and certain GTA Board members have differing opinions than the rest of us.

    ReplyDelete