The appellant, Municipal Property Assessment Corporation, appealed a decision of the Assessment Review Board regarding the assessed value of a grocery store property.
The Board had determined the current value of the property as development land but then drastically reduced the assessed value by applying the equitable principle under the Assessment Act, comparing it only to two other grocery stores.
The Divisional Court allowed the appeal, finding that the Board erred in law and rendered an unreasonable decision by failing to consider all points of comparison to determine 'similar lands' and by failing to properly apply the equitable principle.
The matter was remitted to a differently constituted panel of the Board.
