Imran Asmal

The appellant appealed the property tax assessments for an industrial property for the 2013 to 2016 taxation years, arguing the returned value of $18,474,000 was too high and should be reduced based on the direct comparison approach.

The respondent MPAC argued the cost approach was more appropriate for a purpose-built single-tenant building and supported the returned value.

The Assessment Review Board accepted MPAC's expert evidence that the cost approach was the best indicator of value and found no basis to adjust the assessment for equity.

The appeals were dismissed and the assessments were confirmed.