A town’s major increase of an outlet mall’s property assessment wasn’t allowed, the Supreme Court of New Hampshire ruled, overturning a lower court’s decision.
In 2017, the town of Merrimack reassessed Merrimack Premium Outlets LLC, which owns a large property that leases to a retail outlet shopping mall, after learning that the company had used its property as collateral a few years earlier at a value of $220 million. The town, which had assessed it at $86.5 million in 2016, raised its assessment to $154.1 for 2017. The Superior Court supported the town’s action.
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