The appellants appealed the 2018 and 2019 property tax assessments for their 109.75-acre property, which included a residence, farmed land, and non-farmed land.
MPAC assessed the property at $769,000, later recommending a reduction to $633,000.
The Assessment Review Board found that MPAC's valuation improperly included sales of non-farm properties, violating section 19(5)(b) of the Assessment Act.
After adjusting the cost and direct comparison approaches to exclude invalid sales and account for soil restrictions, the Board determined the current value to be $560,300.
The Board further applied an equitable reduction under section 44(3), lowering the final assessment to $501,000.
