Outlet mall's value is set
Owners of The Outlet Shoppes at Oklahoma City have settled with the Oklahoma County Assessor's office over the mall's market value, which now is set at $63 million. The matter was settled Dec. 17 by Oklahoma County District Judge Barbara Swinton and the agreement states mall owners will be refunded any excess 2012 taxes paid. Horizon Group Properties and CBL & Associates Properties, which jointly own the mall, filed a complaint with the district court in July, disputing the initial assessment of $73.8 million and asking the court to determine the mall's fair market value. Mall owners said the property is worth $53.7 million. The outlet mall, which opened in August 2011 at Interstate 40 and Council Road, cost $50 million to build.
FROM STAFF REPORTS