The appellants appealed the classification of four surface parking lots in the City of Toronto for the taxation years 2001 through 2008.
The appellants argued that the 'air rights' above the parking lot surfaces should be classified in the Commercial Property Class, Vacant Land Subclass or Excess Land Subclass, as they have value, are capable of legal description, are severable, and assessable.
The Municipal Property Assessment Corporation (MPAC) classified the properties wholly in the Commercial Property Class, arguing that density potential is a restriction attached to the land, not land itself.
The Assessment Review Board found that neither the undeveloped air space above the property nor the air rights/development rights/density rights in the City of Toronto zoning by-law are 'land' within the meaning of the Assessment Act.
The Board confirmed the assessments and the classification of the properties in the Commercial Property Class.
