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Assessors approve $600,500 abatement, lowering Sandville Estates value to $2.5 million
Summary
The Board of Assessors granted a taxpayer abatement for Sandville Estates (Mickland Development Inc.), reducing the assessed value from about $3.1 million to $2.5 million after review of competing appraisals and cost estimates.
The South Berwick Board of Assessors voted 4-0 on May 21 to grant an abatement that reduces the assessed value of Sandville Estates (Mickland Development Incorporated) from approximately $3,100,500 to $2,500,000.
The action followed an in-depth review by assessing staff of an appraisal submitted with the abatement petition and supplemental materials from the taxpayer's attorney, Michael Skolnick. Assessing staff said the appraisal submitted by the taxpayer valued the subdivision at $870,000; staff’s review used sales-comparison and a discounted-cash-flow analysis and arrived at a recommended…
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