Upton & Hatfield, LLP is pleased to announce that on November 4, 2013, the Rockingham County Superior Court issued a favorable ruling in the matter of Gargiulo et al. v. Newmarket. Justin C. Richardson, a partner in Upton & Hatfield, LLP’s Municipal Law Practice Group, tried the case for the Town.
The case involved a lawsuit brought by investor-owners of 52 condominium units. The investor-owners claimed that the Town had disproportionally assessed their units and requested that the Court order significant reductions
The Court pointed to cross-examination of the investor-owners’ expert in reaching its decision. The Court observed that the investor-owners’ expert admitted that “she did not make any adjustments to the value [of the 52 units] based on the restrictive financing” in the market and that “she did not consider whether the length of time a [comparable] property was listed on the market had an impact on the sales price”. The Court found that the evidence against the Town was “wholly unconvincing.”
The Court’s ruling can be downloaded HERE.
Upton & Hatfield, LLP represents over 50 municipalities and school districts throughout the State of New Hampshire with offices located in Concord, Portsmouth, Hillsborough and North Conway, New Hampshire.