The Appellants appealed the property tax assessment of their seasonal waterfront property in Terrace Bay for the 2017 and 2018 taxation years.
The property was assessed at $314,000 based on a January 1, 2016 valuation date.
The Appellants argued the value should be between $150,000 and $180,000 and sought an equitable reduction.
The Assessment Review Board found that the best comparable sales supported the $314,000 assessment.
The Board also determined that an equitable reduction under s. 44(3)(b) of the Assessment Act was not warranted, as the evidence did not show that similar lands in the vicinity were assessed at a lower value.
The assessment was confirmed.
