Laurie A. Ortolano Trust v. City of Nashua
Docket Nos.: 29472-18PT/29699-19PT
Page 7 of 18
Further, the board finds he used at least one comparable sale that was inappropriate and its
inclusion skewed the resulting market value opinion substantially.
In making its own market value findings, the board notes the parties’ respective
appraisers (Stanhope and Gardner) used seven comparables in their 2018 valuations and six in
their 2019 valuations. The board reviewed this sales evidence in considerable detail. Prior to
making any adjustments, the comparable sales utilized in the 2018 Taxpayer Appraisal ranged
from a low of $559,900 to $650,000; after adjustments, these comparables provide a value
indication range of $587,600 to $597,900. (See 2018 Taxpayer Exhibit No. 3, p. 59.) In the
2018 City Appraisal, the comparable sales ranged from a low of $650,000 to a high of
$1,150,000; after adjustments, the comparables provide a value indication range of $648,100 to
$979,550. (See 2018 Municipality Exhibit A, p. 8.) In comparison, the highest sale price
utilized by the Taxpayer’s appraiser for tax year 2018 was $650,000, which is close to the lowest
sale price utilized by the City’s appraiser.
One comparable, 4 Elliot Street, which sold in February, 2018 for $650,000, was utilized
by each appraiser in both their 2018 and 2019 appraisals. Another comparable, 51 Concord
Street, which sold in September, 2019 for $667,000, was utilized by both appraisers in their 2019
appraisals. (See 2018 Taxpayer Exhibit No. 3, 2019 Taxpayer Exhibit No.1 and Municipality
Exhibit A in the 2018 and 2019 appeals.)
The board finds these two sales, when adjusted to account for differences in market
conditions, lot size, gross living area, quality of construction and other physical characteristics
provide the best basis for arriving at a reasonable indication of the market value of the Property.
Weighing all of the evidence, including the testimony of Ms. Ortolano and Mr. Gardner, the
board finds the Property had a market value of $625,000 as of the April 1, 2018 assessment date.
