SALISBURY — Timothy D. Smith, owner of Matika Villa and Circle Drive mobile home neighborhoods, has declared bankruptcy.
Smith owes more than $120,000 in property taxes and water bills. Tenants at the mobile home parks had been sending their rent checks directly to Rowan County to pay down Smith’s tax bill. The county was sharing part of the rent with the city for water bill payment.
Smith was so far behind on his water bill, the city considered turning off the water at Matika Villa and Circle Drive. Payment from rent checks intercepted by the county kept the water on.
But Smith’s voluntary Chapter 11 filing this week for three of his limited liability corporations ends the rent attachment by the county.
Read more in Friday’s Post.
Contact reporter Emily Ford at 704-797-4264.