Amherst property owners challenging nearly $200M in over-assessments

Aug 17, 2017

Property owners of 190 commercial and upscale residential properties in Amherst are appealing for lower assessment reductions totaling $194 million.

The town put a total assessment of $586.8 million on the 190 properties, linking the higher values to a hot real estate market. However, many believe the hikes are too much. They are appealing to the State Supreme Court.

Town Assessor David Merrano said Amherst can only look from the outside when assessing a property.

"Let us know the information, provide us with the data so we can then say, 'Hey, this is your market value, because if there's interior problems - I'm not talking paint or carpet, but you have a real problem, you've got a major drainage problem, you've got a cracked foundation, you've got a sinking foundation -  I wanna be aware of that because that will have a significant impact on your value and I wanna get that number right."

Merrano said he does not want to see anyone have a decreased market value, but in some cases it happens. Those who are challenging their assessment are being asked to bring hard-fact data to support their case.