Lordstown Motors Makes Good on Real Estate Taxes
LORDSTOWN, Ohio – Lordstown Motors Corp. on Friday fulfilled its full tax obligation – plus a 10% penalty – to Trumbull County after it missed a payment for first-half real estate taxes in March.
Records from the Trumbull County Auditor’s office show that Lordstown Motors paid on April 28 a total of $570,958.36 on four parcels it owns in the village. It also paid a 10% late penalty of $57,095 on the properties, records show. The first-half taxes for the 2020 tax year were due March 5.
The company has said that the missed payment was because of an administrative error.
A second half payment for 2020 of $570,958.36 is due Aug. 6.
Lordstown Motors purchased the former General Motors plant and surrounding land for $20 million in 2019. The company is retrofitting the assembly and stamping operations to accommodate production of the Endurance, billed as the first all-electric commercial pickup. The plant is currently producing beta models of the Endurance used for safety validation testing.
Lordstown Motors plans to have the Endurance in production by the end of September.
Published by The Business Journal, Youngstown, Ohio.