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Property assessment for a seasonal island cottage reduced from $316,000 to $300,000 based on comparable sales.
The appellants appealed the MPAC property assessment of their seasonal, water-access island cottage on Lake Temagami for the 2017 and 2018 taxation years.
MPAC assessed the current value at $316,000, while the appellants argued for a value of $235,000 due to the property's basic construction, lack of hydro, and distance from the access point.
The Assessment Review Board analyzed comparable sales provided by both parties.
The Board concluded that the property's correct current value was $300,000, reducing the assessment accordingly.
Property assessment reduced to $300,000 for a seasonal island cottage on Lake Temagami.
The appellants appealed the MPAC assessment of their seasonal, water-access island property on Lake Temagami for the 2017 and 2018 taxation years.
MPAC assessed the current value at $316,000, while the appellants argued for $235,000 due to the property's basic construction, lack of hydro, and distance from the access point.
The Assessment Review Board analyzed comparable sales and determined that the subject property's current value was $300,000, reducing the assessment accordingly.
No co-appearing lawyers found.
No judges found.