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Old 09-28-2018, 09:39 PM   #89
FlyingScot
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Quote:
Originally Posted by jeffk View Post
The valuation is supposed to approximate actual market value as determined by uniform (across the state) methods.

This is an very interesting point with respect to this home. Typically, the market value of the property would reflect the value of the land plus the building cost plugged into some reasonable formula. But what happens when the owner spends so much on the building, that no one else can afford to buy it? This seems to be the case here. Should the town suffer because he built a property that is not marketable? Or should the tax assessment reflect the value of the land plus the building cost plugged into some reasonable formula?
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