Blakeley v. Board of Assessors

We uphold the decision of the Appellate Tax Board (board) denying an abatement of local real estate taxes assessed on land and a building under construction at 60 State Street in Boston on the first of January in the years 1976, 1977, and 1978. The appellant trustees, whom we shall refer to as the trust, argue that the board (1) improperly rejected its evidence of fair market or fair cash value based on capitalization *474of net income imputed to the building and (2) improperly relied on the cost of construction of the building in arriving at a fair market value of the property, which we shall…