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Board grants abatement for 24 Weeks St. after water-damage review, reducing assessed value by $54,900
Summary
The board voted unanimously April 23 to lower the assessed value for 24 Weeks St. (Earle C. Young Jr.) from $246,500 to $191,600 after staff concluded the building condition warranted a ‘Very Poor’ listing plus an extra 10% reduction for water damage.
The board voted to grant the abatement for the property at 24 Weeks St., reducing the assessed value from $246,500 to $191,600 (an assessed-value reduction of $54,900). Jim Rice moved the motion and Karen Mudgett seconded; the motion carried unanimously.
Assessing staff reviewed photographs and an asbestos/demolition estimate included in the application and recommended reclassifying the building condition to Very Poor and applying an additional 10% reduction for water damage. The board explained that while the building may not be habitable, the lot retains value and the adjustment reflects the practical limits on redevelopment of a small lot.
