OARB 2015

The appellant appealed the property assessment of a vacant waterfront lot for the 2013 and 2014 taxation years, arguing the assessed value of $134,000 was too high due to a steep slope and poor utility.

The Assessment Review Board found that MPAC had already reduced the assessment by $201,000 to account for the property's poor condition.

Relying on comparable sales data provided by MPAC, the Board concluded the current value was correct and no equity adjustment was required.

The appeal was dismissed and the assessment confirmed.

The appellant appealed the property assessment of a commercial building in Toronto for the 2013 and 2014 taxation years.

The Assessment Review Board determined the current value of the property by analyzing comparable sales and applying a value per square foot.

The Board reduced the assessment from $3,039,000 to $2,708,000 and found no equity adjustment was required.

The decision also applied to the deemed 2015 appeal.

The appellants appealed the property assessment of their single-family detached home in Collingwood for the 2013 and 2014 taxation years.

MPAC assessed the current value at $327,000, while the appellants argued for a value of $260,000.

The Assessment Review Board analyzed comparable sales provided by both parties and determined the current value to be $315,000.

The Board found no evidence to support an equity adjustment.

The assessment was reduced to $315,000, and the decision was deemed to apply to the 2015 taxation year as well.

The appellant appealed the property assessment of a waterfront cottage property on Lake Joseph for the 2013 and 2014 taxation years.

The parties agreed on the value of the buildings, leaving only the land value in dispute.

The appellant argued that a strip of land added to the property to permit a two-storey boathouse had limited utility and should not significantly increase the property's value.

The Assessment Review Board accepted MPAC's recommended land value of $1,898,000, finding it appropriately accounted for the property's unique configuration and northeast exposure.

The Board also found no evidence to support a further reduction based on equity with similar properties.

The assessment was reduced for 2013 and confirmed for 2014.

The appellant appealed the property assessment of an industrial building in Toronto for the 2014 taxation year, which was returned at $1,078,000.

The Assessment Review Board found that the best evidence of current value was the actual sale of the subject property in July 2013 for $1,050,000, as MPAC failed to provide appropriate time and feature adjustments for its comparables.

The Board determined the current value to be $1,050,000 and applied an equity adjustment based on the assessment-to-sales ratio of MPAC's comparables, reducing the final assessment to $997,000.

The decision also applied to the deemed 2015 appeal.

The appellant appealed the property assessment of an industrial building for the 2009-2012 taxation years, arguing the current value assessment of $6,411,000 was too high compared to similar properties.

The appellant proposed a value of $5,599,000 based on comparable sales.

The respondent assessment corporation defended the assessment using the direct sales comparison approach, providing six comparable sales.

The Board reviewed the comparables, rejected two as invalid, and found the remaining sales supported the assessed value of $63 per square foot.

The Board confirmed the assessment at $6,411,000 and found no equity adjustment was required.

The appellant appealed the property assessment of a single-family dwelling in Markham for the 2013 and 2014 taxation years.

The appellant argued the assessment was too high given the property's state of repair and comparable sales.

The Assessment Review Board determined the current value of the property to be $499,900 based on comparable sales, but applied an $80,000 reduction for the cost of curing defects, resulting in an adjusted value of $419,900.

Since this adjusted value was higher than the returned assessment of $410,000, the Board confirmed the assessment at $410,000 and dismissed the appeal.