Assessment Review Board
Commission de révision de l’évaluation foncière
ISSUE DATE: January 18, 2018
Assessed Person(s): Barbara Mae Connolly and Warren Harold Bock
Appellant(s): Barbara Mae Connolly and Warren Harold Bock
Respondent(s): Municipal Property Assessment Corporation (“MPAC”) Region 07
Respondent(s): City of Peterborough
Property Location(s): 301 Carnegie Avenue, Unit 65
Municipality(ies): City of Peterborough
Roll Number(s): 1514-060-007-07893-0000
Appeal Number(s): 3200176
Taxation Year(s): 2017
Hearing Event No.: 689894
Legislative Authority: Section 40 of the Assessment Act, R.S.O. 1990, c. A.31, as amended
Heard: December 6, 2017 in Toronto, Ontario
APPEARANCES:
Parties
Counsel+/Representative
Barbara Mae Connolly
Warren Harold Bock
Warren Harold Bock
Self-represented
MPAC
Kevin Woodgate
City of Peterborough
Kim McPhail
DECISION OF THE BOARD DELIVERED BY MARCELLE BOURASSA
INTRODUCTION
1The Appellants, a retired couple, purchased their home, Unit 65 located at 301 Carnegie Avenue in Peterborough, in October 2012 for $504,273. It is a semi-detached residential condominium with 1,517 square feet (“sq. ft.”) of total building area, a finished basement area of 1,065 sq. ft. and a 517 sq. ft. attached garage. There is also a sun room with walk out access from the basement and a deck above it. It was a builder’s sale.
2Kevin Woodgate, representing MPAC, states that the 2016 current value assessment (“CVA”) was returned at $511,000 based on the direct comparison approach. He is also of the opinion that that no equity adjustment is required under the Assessment Act (the “Act”).
3Warren Bock, on behalf of the Appellants did not provide his own estimate of current value. However, he submits that the subject property would be more equitably assessed at $357,000 which value represents 70% of the assessed value as returned of $511,000.
4Under the Act, the Assessment Review Board (“Board”) must first determine the correct current value of the land and then determine whether it should be adjusted to make it equitable with the assessments of similar lands in the vicinity.
CONCLUSION
5For the reasons stated below, the Board finds the current value of the property to be $551,808. Furthermore, the Board concludes that the current value is not equitable relative to the assessments of similar lands in the vicinity and should be reduced to $492,000 (rounded) under s.44.(3)(b) of the Act.
6Accordingly, for the 2017 taxation year, the assessment is reduced from $511,000 to $492,000.