appraisal

After conducting a town wide revaluation of all taxable property in 2016, the town assessed the shopping mall owned by the Plaintiff at $86,549,400.  Later that same year, the town learned that the property had been used as collateral for a loan in 2013 at a value of $220,000,000.  Based on that information, the town reassessed the property for the 2017 tax year for $154,149,500.  The Plaintiff appealed, arguing that no changes to the property or affecting the property had occurred that would legally support a reassessment under RSA 75:8.

This case is one of many pending in the superior court or in the Board of Tax and Land Appeals in which a public utility has appealed the denial of a request for abatement of local property taxes. In many of these cases, the utility has relied upon the Department of Revenue Administration’s appraisal of its property under the statewide utility tax statute, RSA 83-F, to support its challenge to the municipality’s assessment.