Apple Store on the Auction Block?

Wednesday, Jun 22, 2011  |  Updated 8:59 PM EDT
View Comments (
)
|
Email
|
Print
Apple Store on the Auction Block?

Getty Images

advertisement

About 6,000 D.C. properties, including the Apple Store in Georgetown, could be on the auction block  because of delinquent taxes.

The properties are on a list released by the D.C. Office of Tax and Revenue last week. 

That list shows Apple owes almost $150,000 in back taxes on the Georgetown store at 1229 Wisconsin Ave. NW.

The property is valued at almost $15 million.

The Washington Business Journal reports it's not the first time Apple has been late on its taxes. It bought the property in 2007 for $13.4 million and feel into arrears. In 2008, it paid $165,000 in taxes, penalties and interest.

And Apple isn't the only big name corporation on the list. TD Bank owes approximately $160,000 for its branch in the 1600 block of Wisconsin Ave. NW. A TD Bank spokesperson told the Business Journal the bank is "unaware of owing back taxes, but is trying to resolve the matter quickly."

So are thousands of others, who risk losing their property in the tax sale auction. It begins July 18 and runs for three days.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Join the Ride to Conquer Cancer
Join the Ride To Conquer Cancer, Sept. 13... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out