Prince reportedly owes around $506,000 in taxes.

Carver County tax records show the 'Purple Rain' singer - real name Prince Rogers Nelson - and his companies PRN Music Corp. and Paisley Park Enterprises Inc. owe the combined sum in delinquent property taxes to the state of Minnesota for 2009.

PRN Music Corp. - which is based in the musician's Paisley Park Studios in Chanhassen, which is located west of Minneapolis - alone owes more than $227,000 in taxes to the state and other government bodies.

Prince, 51, now has until April 21 to file an objection to the sum he and his businesses are alleged to owe, if he does not "a court judgment will be entered against the properties for the unpaid tax, penalty, interest, and costs", according to local newspaper the Chaska Herald.

However, he has until now and May 2013 to pay off the sum until any forfeiture process could start against Prince's listed properties.

According to Laurie Engelen, taxpayer services manager for Carver County, the pop legend was late in paying taxes on his studio in 2006 and 2008, and on a piece of land he owns in 2008, but eventually settled the matter.