National Steel creditors to pay $10M in taxes

Nov 17, 2004 | 09:27 AM | John E. Sacco

National Steel Corp.'s creditors have agreed to pay nearly $10 million in past-due taxes that should provide for economic development and property-tax relief on the Minnesota Iron Range.

The settlement between the state of Minnesota and creditors of bankrupt National Steel, Mishawaka, Ind., will provide $4.9 million in past-due taconite taxes that will go to the Iron Range Resources (IRR) and another $4.9 million to St. Louis County for property-tax relief to homeowners within the Taconite Tax Relief Area.....

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