Alfano Law Office, PLLC

Alfano Law Office, PLLC
Phone: 603-226-1188 • Fax (603) 290-5521
4 Park Street, Concord, NH 03301
  • Home
  • Real Estate Law
    • Road Law
    • Commercial Real Estate Law
    • Tax Abatements
  • About Us
    • Paul J. Alfano, Real Estate Attorney
    • John F. Hayes, Attorney
    • Elizabeth J. Nolin, Attorney
    • Privacy Policy
  • Articles
  • Contact Us
    • Directions
  • NH Tax Abatement
    • Tax Abatement Team
    • Grounds for Abatement
    • Municipal Application
    • Owners of Properties Outside New Hampshire
    • Transfer Tax Allocation
    • Recent Laws and Rulings
  • Resources and Links
    • Calendar and Key Dates
    • Equalization Ratio
    • NAPTA
You are here: Home / New Hampshire Property Tax Alerts / May 2015 NH Property Tax Alert

May 2015 NH Property Tax Alert

Market Value.  Real estate must be valued at “market value,” and market value means “the property’s full and true value as the same would be appraised in payment of a just debt due from a solvent debtor.”  RSA 75:1.

Arms-length transaction.    An arm’s-length transaction is a transaction freely arrived at in the open market, unaffected by abnormal pressure or by the absence of normal competitive negotiation as might be true in the case of a transaction between related parties.  See Appeal of Lakeshore Estates, 130 N.H. 504, 508 (1988).

Also of note….

Homestead. Each person’s homestead in property in which he or she maintains a dwelling is exempt from attachment except in limited circumstances.  The amount of the homestead exemption is $100,000 and lasts for the lifetime of the owner and his or her surviving spouse.  RSA 480:1; 3-a.

Amazing but true….

The New Hampshire Supreme Court ruled last month that the odor of cat urine could constitute a “direct physical loss” under a homeowner’s insurance policy it was asked to interpret.  Mellin v. Northern Security Insurance Company (April 24, 2015).  The plaintiffs/claimants noticed a urine odor in about 2010, and surmised it entered their condominium unit from the downstairs unit through an open plumbing chase servicing the kitchen. The Epping building/health inspector examined the unit and informed the plaintiffs a health problem existed and that the odor was such the plaintiffs needed to vacate the unit to have a company terminate the odor. The remediation was unsuccessful. The plaintiffs could not lease the unit, and ultimately sold it at a price considerably less than for comparable condominiums unaffected by cat urine odor.  The Court ruled the plaintiffs were not required to demonstrate a “tangible physical alteration” to the unit or to prove that the unit was rendered permanently uninhabitable. Rather, to demonstrate a physical loss under the policy, they were required to establish a distinct and demonstrable alteration to the unit. The Court remanded the case to the superior court to apply this standard to the facts of the case.

Filed Under: New Hampshire Property Tax Alerts, Recent News

Subscribe to New Hampshire Property Tax Alert

Sign Up Now

For Email Newsletters you can trust.

NH Tax Abatement

  • NH Tax Abatement
    • Tax Abatement Team
    • Grounds for Abatement
    • Municipal Application
    • Owners of Properties Outside New Hampshire
    • Transfer Tax Allocation
    • Recent Laws and Rulings
  • Resources and Links
    • Calendar and Key Dates
    • Equalization Ratio
    • NAPTA

NH Real Estate Law Articles

  • General
  • Legislation
  • New Hampshire Property Tax Alerts
  • Property Tax Law
  • Real Estate Law
  • Recent News
  • Road Law
  • Taxes

Recent News

Local Land Use Law: A Brief Introduction, Part I

New Hampshire’s system of government is best captured by our … [Read More...]

New Hampshire State and Local Taxes: An Introduction

State and local taxes (“SALT”) are any additional taxes … [Read More...]

October 2017 Property tax exemptions; Evictions – landlords can be too nice; Easements – can you prevent others from using your easement?

Don't mess-up the tax exemption for municipal real … [Read More...]

September 2017 New commercial and industrial property tax exemption; Private road maintenance update; You’re ousted! – fighting adverse possession.

Real estate … [Read More...]

More Posts from this Category

Article Archives

  • April 2018
  • March 2018
  • October 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • June 2016
  • April 2016
  • March 2016
  • January 2016
  • December 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • September 2014
  • August 2014
  • June 2013
  • February 2012
  • December 2011
  • May 2011
  • July 2010
  • December 2005

Alfano Law Office, PLLC, 4 Park Street, Concord, NH 03301 USA | Phone: 603-226-1188
Copyright © 2018 · Alfano Law Office, PLLC. All Rights Reserved · Website design by InterActive Synergy, LLC