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IRS tax lien forces Val Kilmer to put his New Mexico ranch back on the market

Looking for a nice, secluded getaway in the wilds of northern New Mexico? Val Kilmer has a deal for you.

NEW YORK - MAY 19: Actor Val Kilmer attends the premiere of MacGruber at Landmark's Sunshine Cinema on May 19, 2010 in New York City. (Photo by Bryan Bedder/Getty Images)

The actor, most recently seen in the Saturday Night Live movie spinoff "MacGruber" and who has portrayed Batman and a Navy fighter pilot on the big screen, has reduced the asking price for his nearly 6,000 acre property to $18.5 million. 

That's down from the $23 million he was seeking earlier this year.

And it's a steal compared to the original $33 million price tag he put on the place, located along the Pecos River about 22 miles northeast of Santa Fe, back in 2009.

The reason for the price cuts? The IRS has slapped the ranch with a lien because of $500,000 Kilmer allegedly owes in unpaid 2008 federal taxes.

Tax and other troubles: This is just the latest tax -- and real estate -- issue Kilmer has faced.

The half million lien comes seven months after the IRS cleared Kilmer of a $538,858 tax debt.

On the real estate front, Kilmer had been trying for years to get local government approval to turn a portion of the ranch into a bed and breakfast. It sounds tailor made for such an operation.

The 5,500 square foot main ranch house, built of logs, has an attached guest house and several other detached structures. They sit along along a six-plus-mile stretch of the Pecos River, which offers trout fishing opportunities. There's also an equestrian complex.

But the lodging conversion was complicated by some disparaging remarks Kilmer made about the region. An apology for the comments worked and earlier this year San Miguel County officials approved the bed and breakfast plan.

Apparently, that's now all for naught unless a new owner wants to keep taking in paying guests.

Personally, if I could afford the place, based on what's shown on the ranch's for-sale website I'd keep it all to myself.

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I'm sure the real estate market is one reason for the lower price. But he's also trying to get as much money as possible as quickly as possible to have some cash to settle the IRS debt.


If he only owes 500k and that is what the lien is for than why would that cause him to have to drop the selling price? he only owes what he is owes they can't take more money just because he sells the ranch for more.

Isn't the real reason for the price dropping because of the downturn in the real estate market?

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