Finance Authority v. City of Caribou

WATHEN, Chief Justice.

[¶ 1] The City of Caribou (“the Ciiy”) appeals from a judgment entered in the Superi- or Court (Kennebec County, Alexander J.) vacating a decision of the State Board of Property Tax Review (“the Board”). The Board denied a request for a tax abatement filed by the Finance Authority of Maine (“FAME”).1 The taxes in question were assessed in 1989 before FAME acquired the subject property. On appeal, the City ar*914gues that the taxable status of the property for the 1989 tax year was fixed on April 1, 1989, and that the court erred in ruling that the property became tax exempt…