Concord Natural Gas Co. v. City of Concord

The issue in this tax abatement case is set forth in the following question which was transferred without ruling on an agreed statement of facts by Johnson, J. “Should the assessment for purposes of ad valorem property taxes of the Petitioner’s mains in service in the City of Concord more properly be based upon reproduction cost, that is, the cost of reproducing the taxable property exactly, when the taxable property would not be reproduced exactly if reconstructed during the years in question, or upon the replacement cost, that is, the cost of the functionally equivalent item with which the…