BILLINGS - Rimrock Mall still owes more than half a million dollars in back taxes, according to the Yellowstone County Treasurer’s Office.
Treasurer Hank Peters said as of Wednesday, Nov. 12, the 2024 taxes remain delinquent, with a total balance of $592,009.78, including nearly $49,000 in penalties and interest.
Watch to see how the mall is still bringing business to Billings:
While Peters said the county has received inquiries from potential investors since the tax lien was attached earlier this year, the lien has not been purchased. The county continues to pursue collection efforts.
Rimrock Mall is owned by Rimrock Mall Realty Holding LLC, a subsidiary of Kohan Retail Investment Group, based in Great Neck, N.Y.
Kohan Retail operates shopping centers across the country, many of which have faced similar financial and tax issues. The company owes $8.7 million nationwide on its 17 properties.
The attached lien applies to the mall’s 2024 taxes. The first half of the 2025 taxes - totaling $218,411.63 - is due Nov. 30, with the second half due May 31, 2026, according to tax records. The mall owes $1,028,833.02 for 2024 and 2025 combined, according to Peters.
“It can place a huge burden, especially if it's on a taxing jurisdiction that is smaller,” Peters told MTN News.
“It is something that we're going to keep pursuing. We want to get this collected as soon as possible,” he added.
Earlier this year, Q2 News reported that the county placed a tax lien on Rimrock Mall for unpaid 2024 taxes of about $600,000.
The property has continued to operate, with several new tenants and developments announced, including a new sporting goods store and the potential for a Dutch Bros Coffee location.
If the mall does not pay back taxes by August 2028, the county will own the mall and auction it off to a new owner, according to Peters.
— Reporter Vanessa Willardson contributed to this story.
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