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Board of Assessors grants $639,600 abatement for 520 Shore Drive after inspection finds water damage
Summary
The Laconia Board of Assessors voted unanimously April 23 to lower the 2025 assessed value for 520 Shore Drive from $3,031,400 to $2,391,800 after on-site inspection revealed water damage, decking deficiencies and failing amenities, producing a $639,600 reduction in assessed value.
Acting board chair Jim Rice moved that the abatement for the waterfront property at 520 Shore Drive be granted to reduce the original assessed value from $3,031,400 to $2,391,800; the motion was seconded by Board member Karen Mudgett and carried unanimously.
The board’s inspection on March 16, 2026, documented "significant water damage around most of the windows and skylights, minimal support under decking, the central air compressor, central vacuum and jet tub are not working," and recommended changing the property grade and applying 20% applied physical depreciation. Those condition adjustments led the board to approve a $639,600 reduction in assessed value. The board also noted steep terrain and limited beach area when adjusting land-frontage considerations.
