521 CMR, § 3.7

Current through Register 1533, October 25, 2024

Section 3.7 - PARTIAL APPLICATION

When only a portion of a building is subject to 521 CMR, the full and fair cash value shall be prorated by the ratio of the square footage of that portion to the square footage of the whole building.

Example: Where the whole building is 100,000 square feet, the full and fair cash value is $1,000,000, and the part subject to 521 CMR is 10,000 square feet (one-tenth of the total), then the full and fair cash value of the part subject to 521 CMR would be one-tenth of $1,000,000 or $100,000.

3.7.1 If the Board determines that such proration would cause an inequitable result, the Board may otherwise calculate the full and fair cash value of the portion of the building.

521 CMR, § 3.7