Mr. Cushing

The appellant appealed the property tax assessment of a commercial property for the 2021 to 2024 taxation years, arguing the 2016 current value was incorrect.

The Municipal Property Assessment Corporation sought an increase in the assessment using the cost approach.

The Assessment Review Board rejected the cost approach, finding sufficient comparable sales for a direct sales comparison.

The Board determined the correct current value to be $413,000 and applied a 10% equitable reduction, resulting in a final assessment of $372,000.