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Board sustains assessments on several condominium units after review of sales comparables
Summary
During the April 23 meeting the board denied abatement requests for multiple condominium units (Weirs Beach Village, Fields Crossing, Pier III), finding assessed values supported by comparable sales and adjusted-indicated values.
The board reviewed sales grids and adjusted comparable sales for multiple condominium-unit abatement requests and voted to deny claims that the assessed values were understated. Items included Andrew and May Ramsdell (5 Tranquility Turn; median indicated $464,850), Brian and Patricia Sifferlien (39 Freedom Lane Unit A; mean indicated ~ $523,800), Larson Family North Realty Trust (53 Freedom Lane Unit B; median indicated $562,550) and Robert Polin (1152 Weirs Blvd Unit 16; median indicated ~$420,050). Motions to deny were made by K. Mudgett or J. Rice and seconded as recorded; votes carried unanimously.
Board members and staff emphasized the use of sale grids and time-trend/GLA adjustments when evaluating condominium complexes where multiple, similar units have frequent sales; the board sustained the assessed values where the adjusted sale-indications fell within or above the assessed value range.
