Jennifer Bouchard

The appellant appealed the current value assessment of a 59-unit multi-residential apartment building in Hamilton for the 2013-2016 taxation years.

MPAC assessed the property at $5,287,000 using the Gross Income Multiplier method.

The appellant argued for a value of $4,200,000 based on fair market rent data from CMHC.

The Board preferred MPAC's methodology and comparable properties, noting the subject property was newly built in 2012.

The Board confirmed the assessment at $5,287,000 and found no equity adjustment was required.

The appellant appealed the 2013 and 2014 property tax assessments for a 43-unit apartment building, arguing that the Gross Income Multiplier (GIM) applied by MPAC was higher than that applied to similar properties in a nearby neighbourhood, resulting in an inequitable assessment.

The Assessment Review Board held a re-hearing solely on the equity issue.

The Board found that the appellant failed to demonstrate inequity, as differing GIMs do not inherently prove inequity if the resulting current values are correct.

The Board accepted MPAC's assessment-to-sale ratio (ASR) study as the best evidence, which confirmed that the correct current value was equitable relative to similar lands in the vicinity.

The assessment was confirmed.