Jenny Belcourt

The appellants appealed the property assessment of their waterfront condominium, which was returned at $1,645,000 for the 2014 and 2015 taxation years.

MPAC relied on the Direct Comparison Approach, presenting three comparable sales.

The appellants argued the property was inferior to MPAC's comparables and presented evidence that the planned development had not materialized.

The Assessment Review Board rejected two of MPAC's comparables and relied on the remaining comparable to determine a value per linear foot of waterfront.

Applying this value, the Board reduced the assessment to $1,450,000 and found no further equitable adjustment was required.