The Assessment Review Board Reduces Methane Contaminated Property’s Taxation Value to Zero by John M. Bulman, Weirfoulds LLP, March 2, 2012
An insurance broker the property owner consulted could not obtain insurance on the house and property because of the methane. Unable to bear the costs of bringing the methane control system up to standard, the owners consulted a broker about selling the property, only to find that their real estate broker would not list the house for sale. In refusing the listing, the broker said that no one would be interested in buying the property because they would not be able to either insure or mortgage it because of the methane levels….The methane problem, it ruled, is more than a mere nuisance, posing a real hazard.
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