Falling property value of Steeplegate Mall affects everyone in Concord
In February of last year, Steeplegate Mall was Concord’s second-largest taxpayer at an assessed value of $52 million. Now, the city’s assessing database values the Loudon Road mall at just $30 million. The property has slipped to the fifth spot on the list of Concord’s largest taxpayers. In the meantime, vacancies have continued to mount, the mall’s owner defaulted on the mortgage and one possible sale has fallen through. While some...
