David Wade

The appellant tenant appealed the property tax assessments for an industrial property for the 2009-2012 taxation years.

The appellant argued that the property's current value should be reduced due to severe environmental contamination and functional obsolescence.

The Assessment Review Board found that the property remained severely contaminated and that ongoing work was remedial, not merely monitoring.

The Board also accepted the appellant's methodology for calculating functional obsolescence, as the municipal assessor had failed to conduct an independent analysis.

The assessment was significantly reduced from over $11 million to approximately $5.98 million.