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Assessors cite CAMA, land-residual method and waterfront comparables in defending $4.03M valuation
Summary
Town assessing staff defended the $4,034,100 valuation for 2 Great Hill Road using mass appraisal methods, land-residual techniques and waterfront comparables (including 41 Great Hill, sold at roughly $4.5M), and noted that waterfront constraints are often reflected in sale prices.
Assessing staff and counsel told the Board they used established techniques—mass appraisal (CAMA) and a land-residual approach—plus an expanded sales window to address a scarcity of direct-waterfront comparables. Staff said conservatism in treatment of older sales and equity across Great Hill supported the assessment and that waterfront constraints are commonly reflected in sale prices.
In the hearing record, assessors referenced sales such as 41 Great Hill (noted at roughly $4.5 million sale and assessed at about $4.307 million) as evidence that the subject's $4,034,100 assessment falls within the correct range. Counsel and staff also explained that the statutory 10% reference in 36 M.R.S. § 848-A functions as a protective benchmark for assessors rather than automatic proof of overvaluation for appellants.
