Alstores Realty Corp. v. Board of Assessors

The board of assessors of the city of Peabody (assessors) appeals, pursuant to G. L. c. 58A, § 13, from a decision of the Appellate Tax Board (board), granting Alstores Realty Corporation (Alstores) abatements of real estate taxes of $765,301.84 for fiscal 1979, and $646,060.30 for fiscal 1980. On appeal, the assessors claim error in the board’s determination to allow certain operating expenses, in the board’s choice of a capitalization rate, in the board’s determination of fair economic rent for Jordan Marsh Company, a corporate affiliate of Alstores, and in its failure to take into account…