T. LaRegina

The appellant, owner of the Calabogie Peaks Resort, appealed the property tax assessments for four parcels of land for the 2009-2012 taxation years.

The properties included a hotel, timeshares, and a ski hill.

MPAC valued the properties using the income approach, direct sales comparison, and cost approach, respectively.

The appellant argued for a much lower valuation based on a discounted cash flow and sum of the parts valuation, emphasizing the resort's financial losses and the cost to sever the parcels.

The Assessment Review Board largely accepted MPAC's methodology but made minor adjustments, reducing the hotel's value due to higher energy costs and reducing the timeshare values to remove GST from the sales data.

The Board declined to award costs to the appellant.