The appellant appealed the property tax assessments for a surface parking lot in Ottawa's Byward Market for the 2013-2022 taxation years.
The central issue was the property's highest and best use.
The appellant argued the highest and best use was its current use as a parking lot, while MPAC argued it was for mixed-use development.
The Assessment Review Board found that there is no presumption that a property's current use is its highest and best use.
Relying on appraisal theory and MPAC's comparable sales data, the Board concluded that mixed-use development was physically possible, legally permissible, financially feasible, and maximally productive.
The Board accepted MPAC's determination of the correct current value and equitable reduction, setting the assessed values at $6,807,600 for the 2012 assessment cycle and $8,334,000 for the 2016 assessment cycle.
