Assessment Review Board
Commission de révision de l’évaluation foncière
ISSUE DATE: December 14, 2015 FILE NO.: WR 134790
Assessed Person(s): Qualico Headwaters (Ontario) Inc. Appellant(s): Qualico Headwaters (Ontario) Inc. Respondent(s): Municipal Property Assessment Corporation (“MPAC”) Region 32 Respondent(s): Town of Kenora
Property Location(s): 10 Forestry Bay Suite 303 Municipality(ies): Town of Kenora Roll Number(s): 6016-010-002-03813-0000 Appeal Number(s): 3049383, 3049878 and 3093958 (deemed 2015) Taxation Year(s): 2013, 2014 (and deemed 2015) Hearing Event No. 599674
Legislative Authority: Section 40 of the Assessment Act, R.S.O. 1990, c. A.31, as amended
Heard: August 20, 2015 in Kenora, Ontario
APPEARANCES:
| Parties | Counsel+/Representative |
|---|---|
| Qualico Headwaters (Ontario) Inc. | D. Betker |
| MPAC | C. Steiner |
| Town of Kenora | M. Saunders and M. Shaw |
DECISION OF THE BOARD DELIVERED BY SUBUOLA AWOLERI AND ANTHONY LaREGINA
INTRODUCTION
1The appeals before the Assessment Review Board (“Board”) are filed by the Assessed Person/Appellant, Qualico Headwaters (Ontario) Inc. in respect to the returned assessments of $623,000 for the subject property in the Town of Kenora for 2013 and 2014 taxation years.
ISSUE
2The subject property is a residential condominium. This unit is part of Registered KSCP12 Headwaters Condo built in 2010. This unit is located on the main level and has a total building area of 2,024 square feet (“sq. ft.”) with a 264 sq. ft. terrace/patio. This unit has one indoor parking stall.
3For taxation years 2013 and 2014 the assessment was returned at $623,000. The current value assessment was determined by MPAC’s Direct Sales Comparison Approach.
4Mr. Betker, representing the Appellant took the position that the assessment is too high and urged the Assessment Review Board (“Board”) to consider a value of $525,000, which is an estimated fair value of the subject property as of January 1, 2012.
5The Town of Kenora was represented by M. Saunders and M. Shaw.
6The Board has to decide:
- Whether the returned assessments of $623,000 for 2013 and 2014 taxation years for the subject property is at current value as of the valuation date January 1, 2012; and
- Whether the value is equitable with the assessments of similar lands in the vicinity.
DECISION
7The Board finds the current value of the property for the 2013 and 2014 taxation years to be $557,000.
8The Board also finds that the assessment at current value is equitable with the assessments of similar lands in the vicinity; hence no further reduction is required to achieve equity.
9The Board orders that the assessment be reduced from $623,000 to $557,000 for the 2013 and 2014 taxation years and deemed for the 2015 taxation year.
REASONS FOR DECISION
Legislation
10The Board must have regard to s. 1, s. 19.(1), s. 19.2(1), s. 40.(17), s. 40.(19), s. 44.(3)(a) and (b) of the Assessment Act (“Act”) when determining whether or not the assessment under appeal is correct.