Massachusetts Home’s Languishing Listing Yields Property Tax Cut

Two property owners convinced a Massachusetts tribunal to lower the valuation of their home to $850,000 from $1,022,800 based on the purchase price of the property.

An arms-length transaction which occurred 30 days after the assessment date is a reliable indicator of the property’s value, the Massachusetts Appellate Tax Board announced Thursday.

• The Board of Assessors of the Town of Worthington argued Mark Corner and Sarah McMullen “got a good deal” because the property could have sold for more if it remained on the market longer
• The home was already on the market for years, having sufficient enough exposure to ...