Jennifer Gruntz

The appellants appealed the assessment of their vacant waterfront lot for the 2017-2019 taxation years, arguing the assessed value of $148,000 was too high due to flood risk, hard well water, and comparable sales.

The Assessment Review Board found that flooding occurring after the statutory valuation day could not justify a reduction, and there was no market evidence that hard water affected vacant land value.

However, based on comparable sales, the Board determined the correct current value was $140,000.

Applying an equity adjustment to align with similar properties in the vicinity, the Board further reduced the assessment to $123,200.