The appellants appealed the property assessment of their single-family dwelling for the 2017, 2018, and 2019 taxation years.
MPAC had assessed the property at $398,000, $429,000, and $419,000 respectively.
The appellants argued the assessment should be between $375,000 and $385,000.
The Assessment Review Board determined the current value of the property to be $420,000 based on comparable sales.
However, applying section 44(3) of the Assessment Act, the Board found that a reduction was necessary to achieve equitable assessment with similar properties in the vicinity.
The Board reduced the assessment to $392,000 for all three taxation years.