New Hampshire Appeals Board Grants Property Tax Abatement for Vacant, Uninhabitable Apartment Building

The New Hampshire Board of Tax and Land Appeals Oct. 8 set its own value of Taxpayer’s three-unit apartment building. Taxpayer argued for a lower assessment based on her recent purchase of the property. The city argued that the purchase was not arm’s length because the seller was an investor who purchased the property from a bank following a foreclosure. The appeals board found the property was actively marketed for sale for more than a year. However, it also found the purchase price was negatively influenced and not an entirely reliable market value indication because of: 1) an atypically motivated ...