Appeal of City of Lebanon

The City of Lebanon (city), appeals a decision of the New Hampshire Board of Tax and Land Appeals (BTLA) granting Colonial Plaza Realty Trust (trust) an abatement of taxes imposed on its property for the years 2006 and 2007. We affirm.

The following facts are supported by the record. The trust owns two adjacent parcels located at 3 and 5 Airport Road in Lebanon, identified on the city’s Tax Map 114 as Lots 6 and 8 respectively. In 2004, the trust entered into a ground lease with GP West Lebanon, LLC (GP West) to allow GP West to build and operate a Walgreens drug store on Lot 6. The terms of…