The appellants appealed the property assessment of their single-family residence for the 2017, 2018, and 2019 taxation years.
The parties agreed on a current value of $887,000, leaving the sole issue of whether an equitable reduction was required under s. 44(3)(b) of the Assessment Act.
The Board found that the appropriate vicinity for the equity analysis was the specific homogeneous neighbourhood (HGNH E60) rather than a broader area, and that a sample size of ten similar two-storey properties was sufficient.
Applying the median assessment-to-sale ratio of 0.90 from these comparable properties, the Board reduced the assessment to $798,000.
