Aida Karreman

The applicant appealed the City of Brampton's rejection of a vacancy rebate application for an industrial property for the period of January 1 to June 30, 2014.

The applicant argued the property was vacant until the lease's occupancy date of July 1, 2014.

The City argued the property was already leased as of December 2013, the tenant had early access for construction, and the property was not actively marketed for lease.

The Assessment Review Board found that the property was under lease, the tenant had early access, and there was no serious attempt to lease the property during the interim period.

The appeal was dismissed and the vacancy rebate was determined to be NIL.

The appellant appealed the property assessment of a custom-built home on a 15.79-acre lot, arguing that the assessed value of $5,625,000 was too high because most of the land was located in a floodplain and not buildable.

The Assessment Review Board agreed with the appellant, finding that 13.7 acres were in the floodplain and should be valued at $18,000 per acre.

Using the direct sales comparison approach for the buildable portion, the Board determined the total current value of the property to be $4,933,000 and reduced the assessment accordingly.