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Board approves salvage valuation for Joyce Bort estate property, cutting assessed value by $11,000
Summary
Following a site inspection, Montgomery listers reduced the house structure at 174 Comstock Bridge Rd to a salvage valuation (65% replacement cost minus 10% economic depreciation), setting the replacement cost new less depreciation at $27,400 and lowering the parcel assessment from $74,000 to $63,000.
The Board of Listers conducted a site visit at 9:53 a.m. to 174 Comstock Bridge Rd (Parcel ID 00042.017X) after receiving an application submitted on behalf of the estate of Joyce Bort. James Walsh, Kenny Miller, and Assessor Kevin Grassi inspected the property; Assessor Clerk Elizabeth Reighley remained at the meeting location for anyone arriving without an appointment.
After returning at about 10:20 a.m., Kevin Grassi reviewed the existing valuation approach and explained that in cases where a structure's age and condition severely limit its marketability, a salvage valuation can be applied. The board approved reducing the structure to a salvage value calculated as 65% of replacement cost minus an additional 10% economic depreciation, placing the replacement cost new less depreciation at $27,400. The change reduced the parcel assessment from $74,000 to $63,000. James Walsh moved to approve the reduction, Kenny Miller seconded, and the motion carried. The assessor entered the change into CAMA and the clerk will prepare and mail the decision letter.
