Bill McGuire

The appellant appealed the property assessment of a mixed-use commercial and multi-residential building in Belleville for the 2013, 2014, and 2015 taxation years.

The property was originally assessed at $719,000.

Both the appellant and MPAC agreed the value was too high, but disagreed on the methodology and final value.

The Assessment Review Board preferred MPAC's income approach, which utilized a Gross Income Multiplier of 3.6, over the appellant's flawed income models and unqualified expert evidence.

The Board reduced the current value to $493,000 and found no further equitable adjustment was required.