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Appellant urges fair-market valuation, says assessed figure overstates taxable value
Summary
In a tax appeal to the Board of Civil Authority, appellant representative Jacqueline Tracy argued the requested valuation should be at fair market value (not the assessor's assessed value) and provided case law and a proposed assessed-value conclusion for the board to consider.
Jacqueline Tracy of the Savitsky office summarized the appellant's supplemental materials and said the appellant "requested value was at the fair market value and not at the assessed value." She told the board the party's calculations apply the statutory ratio to move from assessed value to fair market value and offered a proposed assessed-value conclusion described in the transcript as 43, compared with the city's figure (transcript references 53).
Tracy also said she provided case law from PVR and Vermont courts showing the ratio is considered when establishing fair market value, and she argued an appraiser would look to fair market value as the marketplace standard. She noted one comparable sale cited earlier (a Walgreens in Taunton) was owned by Walgreens at the time and therefore would not have observable rent, a fact she raised to explain the appraisal comparison.
Why it matters: the board will use the submitted valuation approach and supporting materials in deliberation; if the board accepts the appellant's presentation, the assessed roll could change for this property. The appellant asked the board to consider the evidence, and the board said it would deliberate and issue a written decision to the appellant.
