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Property assessment reduced due to incorrect calculation of the managed forests component value.
The appellants appealed the property assessment of their island property for the 2013, 2014, and 2015 taxation years.
The property included a residential component and a managed forests component.
The Assessment Review Board confirmed the assessment of the residential portion but found that the Municipal Property Assessment Corporation incorrectly calculated the value of the managed forests portion.
Applying the prescribed land band value under O. Reg. 282/98, the Board reduced the assessment of the managed forests portion from $273,000 to $5,600, resulting in a total assessment reduction.
No co-appearing lawyers found.
No judges found.