Andrew Attard

The appellant appealed the property assessments for a Small Box Shopping Centre for the 2013-2016 taxation years.

The Board determined the current value using the time-adjusted 2009 sale price of the property rather than the income approach agreed upon by the parties during summations.

The Board also applied an equity adjustment, rejecting MPAC's use of Fair Market Rents as a proxy for equity, and instead applying an Assessment to Sale Ratio of 0.84 derived from a study of 30 commercial properties in the vicinity.

The assessments were reduced accordingly.