Coliseum Vickerry Realty Co. Trust v. City of Nashua

We are asked to determine whether the master properly applied the capitalization of income method in his valuation of the plaintiff’s property in a tax abatement appeal. We affirm.

Consisting of 17.6 acres, the land is owned by Vickerry Realty Co. Trust, which leases the land to the plaintiff, Coliseum Vickerry Realty Co. Trust. The only building on the premises is owned by the plaintiff and is subject to a thirty-year lease executed in 1972 to Montgomery Ward. Under the terms of the leases, the plaintiff is responsible for the payment of real estate taxes.

In 1982, the plaintiff brought suit…