Westfield, Owner of MainPlace Santa Ana, Allegedly Undervalues Malls to Lower Its Taxes
Westfield Malls, which owns hundreds of shopping malls in Australia, New Zealand, the U.K. and the U.S.--including MainPlace in Santa Ana--is shortchanging local communities out of more than $116 million annually, according to a union watchdog.
United Voice, one of Australia's largest unions, makes that claim in a new report that cites the U.S. operations of Westfield, one of Australia's largest companies.
"Westfield's Two Faces: Community Consequences of Tax Avoidance" claims the company reports to shareholders that its 45 U.S. properties are worth $17.4 billion but only pays taxes on $10.5 billion or 60 percent of the declared values.
If Westfield paid property taxes on the actual values, schools and communities across the U.S. could fund more than 1,500 teachers and $60 million in other essential services per year, according to the report.
Read the full report here: http://westfieldwatch.com.au/. United Voice released it as part of the National Day of Action to Reclaim the Promise of Public Education, sponsored by the American Federation of Teachers and more than 100 community groups and unions.
Perhaps it will catch the attention of the Santa Ana Unified School District, whose offices are not that far from MainPlace at 800 N. Main St, Santa Ana.
Get the ICYMI: Today's Top Stories Newsletter
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Orange County, delivered to your inbox Monday through Friday.