Appeal of Town of Newmarket

The Town of Newmarket (town) appeals a decision of the New Hampshire Board of Tax and Land Appeals (BTLA) granting tax abatements for the years 1990 through 1993 on over 500 residential properties in Newmarket owned by the appellee taxpayers, Real Estate Advisors, Inc., Cheney East Corporation, Moody Point Company, and Cheney Enterprises, Inc. (taxpayers). We affirm.

In January 1991, the taxpayers timely sought abatement of their 1990 tax bills, which were based on the town’s assessment values of $12,851,400. The town’s assessment values, in turn, were derived *281from a 1984 cost-approach…