Assessment Review Board
Commission de révision de l’évaluation foncière
ISSUE DATE:
June 09, 2016
FILE NO.:
WR 129286
Assessed Person(s):
Natalia Kouznetchik and Serguei Kouznetchik
Appellant(s):
Natalia Kouznetchik and Serguei Kouznetchik
Respondent(s):
Municipal Property Assessment Corporation (“MPAC”) Region 09
Respondent(s):
City of Toronto
Property Location(s):
33 Empress Avenue Suite 615
Municipality(ies):
City of Toronto
Roll Number(s):
1908-092-540-00924
Appeal Number(s):
2984207, 3017351, 3076549 and 3147763 (deemed 2016 appeal)
Taxation Year(s):
2013, 2014, 2015 and 2016 (deemed appeal)
Hearing Event No.
563971 and 567409
Legislative Authority:
Section 40 of the Assessment Act, R.S.O. 1990, c. A.31, as amended
Heard:
November 5 and 6, 2014 in Toronto, Ontario
APPEARANCES:
Parties
Counsel+/Representative
Natalia Kouznetchik and Serguei Kouznetchik
Vlad Kouznetchik
MPAC
Lesia Komorowsky
City of Toronto
No one appeared
MEMORANDUM OF ORAL DECISION DELIVERED BY TERRY DENISON ON NOVEMBER 6, 2014
INTRODUCTION
1This matter appeared on the docket for Hearing 563791 on November 5, 2014, but could not be heard because of other matters proceeding. Consequently it was heard the following day on November 6, 2014 as part of Hearing 567409.
2The subject property is a unit in a residential condominium building near the intersection of Yonge Street and Sheppard Avenue East in the Willowdale East neighbourhood. It is legally described as MTC Plan 1343 Level 6 Unit 12. It is a one-bedroom unit of approximately 575 square feet (“sq. ft.”).
3The subject property was assessed in the residential class with a current value of $310,000 at the valuation day of January 1, 2012 for the 2013 taxation year. This decision applies to the appeal for the 2013 taxation year and for the deemed appeals for 2014, 2015 and 2016.
ISSUES
4The Assessment Act (“Act”) requires the Assessment Review Board (“Board”), on an appeal under s. 40 of the Act, to determine the correct current value of the property, and then to consider if the assessment is equitable with the assessment of other similar properties in the vicinity as required in s. 44(3)(b).
LEGISLATION
5Section 19.(1) of the Act states that assessment shall be based on current value:
19.(1) Assessment based on current value. – The assessment of land shall be based on its current value.
6Current value is defined in s. 1 to mean:
“current value” means, in relation to land, the amount of money the fee simple, if unencumbered, would realize if sold at arm’s length by a willing seller to a willing buyer.
7Section 40 of the [Act](https