Ainsworth v. Claremont

The plaintiff owns a farm in Claremont consisting of about 155 acres of land, an eleven-room dwelling, a barn, and seven other structures. During the year 1961, all the taxable property in the city was reassessed. The resulting valuations were to be used beginning April 1, 1962.

All reappraisals were made by the replacement cost less depreciation method of arriving at fair market value. All structures were inspected, measured, and classified according to certain construction standards. The replacement cost thus arrived at was then depreciated to reflect physical depreciation and functional…