The appellant appealed the property assessment of a single-storey commercial building in Oakville for the 2014 and deemed 2015 taxation years.
MPAC originally assessed the property at $1,269,000 but recommended a reduction to $986,000 based on a sales analysis.
The appellant argued for a further reduction to between $561,000 and $742,000.
The Assessment Review Board applied the cost approach, determining the land value based on comparable sales and the building value using MPAC's Automated Cost System.
The Board applied a 15% upward adjustment for the property's corner lot location, resulting in a current value of $853,000.
The Board found no further reduction was warranted for equity purposes.