The appellant appealed the property assessment of a residential condominium unit in Kenora for the 2013 and 2014 taxation years, which was returned at $623,000.
The appellant argued the assessment was too high and proposed a value of $525,000, noting the unit had been listed for $557,388 since 2010 without selling.
The Assessment Review Board rejected MPAC's median sale price per square foot analysis because the comparable units had different amenities and upgrades.
Finding the best evidence of current value to be the unit's long-standing list price, the Board reduced the assessment to $557,000 and found no further reduction was required for equity.
