Massachusetts Tax Board Rules for Taxpayer in Property Valuation Appeal

The Massachusetts Appellate Tax Board ruled in favor of the taxpayers’ appeal against the Board of Assessors regarding the valuation of their property. The taxpayers purchased the subject property, a single-family dwelling on a 13.10-acre lot, for $850,000 in 2022. The Board found that the taxpayers’ purchase price, which was within a month of the valuation date and after the property had been on the market for several years, was the best evidence of the property’s fair cash value. The Board rejected the Assessors’ arguments that the taxpayers “got a good deal” and that the property should have been valued ...