Assessment Review Board
Commission de révision de l’évaluation foncière
ISSUE DATE: November 18, 2020 FILE NO.: WR 166243
Assessed Person(s): Grandview Apartments Limited Appellant(s): Grandview Apartments Limited Respondent(s): Municipal Property Assessment Corporation Region 31 Respondent(s): City of Thunder Bay Property Location(s): 1221 Jasper Drive – Unit 101 to Unit 510 Municipality(ies): City of Thunder Bay Roll Number(s): See Schedule A attached Appeal Number(s): See Schedule A attached Taxation Year(s): 2019 and 2020 Hearing Event No.: 735585 Legislative Authority: Section 40 of the Assessment Act, R.S.O. 1990, c. A.31
| Parties | Representative |
|---|---|
| Grandview Apartments Limited | Mathieu Rivard |
| Municipal Property Assessment Corporation | Thomas Pesek |
| City of Thunder Bay | No one appeared |
HEARD: September 23, 2020 by telephone conference call
ADJUDICATOR(S): Anthony LaRegina, Member
DECISION
OVERVIEW
1Grandview Apartments Limited (the “Appellant”), represented by Mathieu Rivard, filed appeals for the 2019 and 2020 taxation years with the Assessment Review Board (the “Board”) regarding 48 apartment units located at 1221 Jasper Drive in the City of Thunder Bay (the “City”). It is the Appellant’s position that the Municipal Property Assessment Corporation’s (“MPAC”) current value assessment for the units is too high and that the correct current value assessments should range between $135,354 and $153,417 for each unit (see Schedule A). At this hearing, MPAC takes the position that the current value assessment range should be between $172,000 and $202,000 (see Schedule A).
2Pursuant to s. 40(11) of the Assessment Act (the “Act”), the City is a party to this proceeding. However, it took no position on the issues raised in this appeal and no one appeared at the hearing on behalf of the City.
Issues for the Hearing
3At issue in this proceeding is:
- a determination of the current value of the 48 subject properties; and
- whether an equity reduction in the current value should be made to compensate for the assessment of similar lands in the vicinity.
Result
4The Board finds that the current values of the subject condominium units for the 2019 and 2020 taxation years are as listed on Schedule A of this decision. Pursuant to s. 44(3)(b) of the Act, no further equitable reduction is required to the current values to compensate for the assessment of similar lands in the vicinity.
Description of the Subject Properties
5The subject properties are 48 condominium units all located at 1221 Jasper Drive in the City of Thunder Bay and all are classified as Residential Full. The structure is a five-storey building known as Regency Apartments. Regency Apartments was constructed in 1994 as a condominium development. It is comprised of 49 residential condominium dwellings ranging in size from 1,067 to 1,174 square feet where 45 of the 49 dwellings contain two-bedrooms and four dwellings contain one-bedroom. This decision relates to the 48 properties under appeal. All 48 units feature one full bathroom, forced air heating, air conditioning and outdoor parking. The building’s Quality of Construction is 6.0. The individual condominium units all have an area for ensuite laundry; but the Appellant elected to have a coin operated centralized laundry facility located in the building and no laundry equipment in each unit.
ANALYSIS AND FINDINGS
Issue 1 – Current Value
6The first issue to be determined on this appeal is the correct current value of the subject properties for the 2019 and 2020 taxation years. Pursuant to s. 19(1) of the Act the assessment of land shall be based on its current value. The Act also provides that, for the 2017 to 2020 taxation years, MPAC is required to assess this value as of the valuation date, January 1, 2016 (“current value”). As defined in the Act, 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”, which translates into the market value of the subject property as of January 1, 2016.
7In order to determine the market value, both MPAC and the Appellant have utilized the direct sales comparison approach and submitted into evidence the sale of comparable properties in the vicinity of the subject properties. Comparable properties rarely sell on the valuation day of January 1, 2016 and therefore, their sale values are time-adjusted to greater or reduced values depending on whether the date of the sale occurred before or after the valuation day.
Comparable Properties
8The Board has reviewed and analysed the six suggested comparable property sales, sold between 2014 and 2016 in the vicinity of the subject properties submitted by MPAC (see Table 1 below), as well as the 55 suggested comparable property sales submitted by the Appellant.
Table 1 – MPAC’s Proposed Comparable Property Sales
| Subject Property | Property 1 | Property 2 | Property 3 | Property 4 | Property 5 | Property 6 | |
|---|---|---|---|---|---|---|---|
| Address | 1221 Jasper Drive Unit 101 | 500 Toledo Street Suite 110 | 500 Toledo Street Suite 111 | 500 Toledo Street Suite 208 | 500 Toledo Street Suite 212 | 500 Toledo Street Suite 306 | 500 Toledo Street Suite 321 |
| Current Value Assessment $ | 186,000 | 188,000 | 184,000 | 200,000 | 179,000 | 192,000 | 187,000 |
| Sale Date | Jan 2015 | Nov 2016 | April 2016 | Oct 2014 | Aug 2014 | Dec 2015 | |
| Sale Value $ | 184,000 | 188,000 | 187,000 | 189,900 | 200,000 | 190,000 | |
| TAS Value $ | 187,458 | 185,797 | 186,166 | 194,612 | 205,809 | 190,128 | |
| Structure Code and Description | (353) Condo Apt/Med Highrise | (353) Condo Apt/Med Highrise | (353) Condo Apt /Med Highrise | (353) Condo Apt/Med Highrise | (353) Condo Apt/Med Highrise | (353) Condo Apt/Med Highrise | (353) Condo Apt/Med Highrise |
| Actual/Effective Yr. Built | 1994 | 1992 | 1992 | 1992 | 1992 | 1992 | 1992 |
| Quality | 6 | ||||||
| Structure Condition Code | Average | Average | Average | Average | Average | Average | Average |
| Total Building Area Square Feet | 1,158 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
| Bedrooms | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Baths | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Air Conditioning | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Heating Type | Forced Air | Forced Air | Forced Air | Forced Air | Forced Air | Forced Air | Forced Air |
| MPAC’s Opinion of Comparability | Relatively Comparable | Relatively Comparable | Relatively Comparable | Relatively Comparable | Relatively Comparable | Relatively Comparable |
9MPAC, submits that the 48 subject units should be valued based on unit size and location within the building. Mr. Pesek therefore created five categories from the 48 subject units:
- Two-bedroom units on the first floor with 1,158 or 1,174 square feet.
- Two-bedroom units on the second, third and fourth floors with 1,158 or 1,174 square feet.
- One-bedroom units (Units 206, 306 and 406) with 1,067 square feet on the second, third and fourth floors.
- A one-bedroom unit (Unit 506) with 1,067 square feet on the fifth floor, which is the top floor.
- Two-bedroom units on the fifth floor with 1,158 or 1,174 square feet.
Category 1 – Two-bedroom units on the first floor with 1,158 or 1,174 square feet
10MPAC submits that the properties on the first floor of the subject property are most similar to Comparable Sales 1 and 2, Units 110 and 111, also located on the first floor at 500 Toledo Street. The average time-adjusted sale value of these two units is $186,627. MPAC submits that $186,000 is the best indicator of current value for the two-bedroom units, located on the first floor of the subject property (see Schedule A).
Category 2 – Two-bedroom units on the second, third and fourth floors with 1,158 or 1,174 square feet
11MPAC uses Comparable Sales 3 and 4, Units 208 and 212, located at 500 Toledo Street as the best comparables to establish the current value of all two-bedroom units on the second, third and fourth floors of the subject property. MPAC determined that the average time-adjusted sale value of these two units is $190,389. MPAC submits that the current value of the subject units is reasonable at $195,000, the returned value, because they are all 1,158 or 1,174 square feet as compared to 1,000 square feet for the units at Toledo Street. Furthermore, the subject property is built in 1994, slightly newer, than the Toledo Street building which was built in 1992 therefore, justifying the slightly increased value from $190,389 to $195,000 (see Schedule A).
Category 5 – Two-bedroom units on the fifth floor with 1,158 or 1,174 square feet
12Regarding the two-bedroom units on the fifth floor of the subject property (the top floor), MPAC uses Comparable Sales 5 and 6, Units 306 and 321, on the third floor of Toledo Street, which is the top floor of Toledo Street. The average time-adjusted sale value of these two units is $197,968. MPAC once again submits that the current value of these units of the subject building are justified at $202,000 as the units in the subject building are larger in size and slightly newer builds. MPAC therefore believes that the current value of the two-bedroom units on the fifth floor should be $202,000 (see Schedule A).
Category 3 – One-bedroom units (Units 206, 306 and 406) with 1,067 square feet on the second, third and fourth floors.
13In support of the current value of the one-bedroom units at the subject building, MPAC refers to a sales analysis of one-bedroom units versus two-bedroom units in the Thunder Bay area, which shows that the sale values of one-bedroom units are 8% lower than two-bedroom units.
14Regarding the current value of the one-bedroom units, Units 206, 306 and 406, MPAC adjusts the average sale value of Units 208 and 212 from Toledo Street, $190,389 by a negative 8% to arrive at $175,157. MPAC submits that the returned value of $172,000 is very reasonable for these properties (see Schedule A).
Category 4 – A one-bedroom unit (Unit 506) with 1,067 square feet on the fifth floor, which is the top floor
15Finally, regarding the current value of the only one-bedroom unit on the fifth floor, Unit 506, MPAC adjusts the average sale value of Units 306 and 321 from Toledo Street, $197,968 by negative 8% to $182,131. MPAC once again submits that the returned value of $178,000 is a reasonable current value for Unit 506 (see Schedule A).
16During cross-examination, Mr. Pesek acknowledges that the subject property has no indoor parking as compared to 500 Toledo Street which has indoor parking. Mr. Pesek claims that indoor parking is normally valued by MPAC at $5,000 per unit in the vicinity of the subject property. He also acknowledges that the subject property has less common areas and little to no amenities in comparison to the building at 500 Toledo Street.
17The Appellant, Mr. Rivard, takes the position that the building located at 500 Toledo Street is a superior building in which condominium units are owner-occupied as compared to the subject building which are all rented units, even though they are registered as condominium units. Furthermore, the Toledo Street building has an indoor common room, sauna with change rooms and a large roof top patio as compared to the subject property which has no amenities. In addition, Mr. Rivard points out that the subject property has coin operated laundry as opposed to the comparable sales at Toledo Street which all have ensuite laundry facilities.
18The Appellant lastly points out that the most important difference between the subject properties and the comparable sales from Toledo Street is that the subject properties have outdoor parking while the units at Toledo Street have indoor parking. Mr. Rivard estimates that the value of indoor parking is $30,000 to $40,000 per parking space and that the indoor parking serves as added security and protection to the vehicles from the elements.
19The Appellant estimates that the high end of the current value range for the subject units should be a reduction of MPAC’s opinion of value by 15% to compensate for the differences, which he has pointed out between the proposed comparable sales and the subject units. Mr. Rivard submits that the upper range for the five categories should be as follows (see Table 2).
Table 2 – Appellant’s Proposed Upper Range of Current Value
| MPAC’s opinion of value | Appellant’s upper range 15% negative adjustment | |
|---|---|---|
| First Floor Units | $186,000 | $158,100 |
| Second to Fourth Floor Units | $195,000 | $165,750 |
| Units 206,306,406 | $172,000 | $146,200 |
| Unit 506 | $178,000 | $151,300 |
| Fifth Floor units | $202,000 | $171,700 |
20In addition, the Appellant entered into evidence the sale of 55 units which Grandview Apartments Limited purchased at 790 Arundel Street in the same vicinity of the subject properties. These 55 units were all owned by one company and were purchased by Grandview Apartments Limited April 5, 2017, the same company that owns the subject properties. Mr. Rivard points out that the units at 790 Arundel Street have a common room, hot tub, sauna and showers while the subject properties have no amenities. He believes that the lowest level of the current value range should be based on the purchase price of the condominiums at 790 Arundel Street. The units were all purchased for $100,000 per unit and the average unit area is 859 square feet, giving an unadjusted sale value of $116.59 per square foot. Applying $116.59 to the three condominium sizes in the subject property, 1,067, 1,158 and 1,174 square feet, results in the following three values, $124,508, $135,127 and $136,994 respectively.
21The Appellant submits that the current values of the subject units should be the average of MPAC’s opinion of value, minus the 15% adjustment which represents the high end of the range and the sale value of the Arundel Street units representing the low end of the current value range. Table 3 below demonstrates the Appellant’s final submissions of current value for the units.
Table 3 – Appellant’s Opinion of Current Value
| Bottom of Current Value Range based on sales of 790 Arundel | Top of Current Value Range based on MPAC’s Current Value (-15%) | Appellant’s Opinion of Value | |
|---|---|---|---|
| First Floor Units | $135,127 | $158,100 | $146,613 |
| Second to Fourth Floor Units | $135,127 | $165,750 | $150,438 |
| Units 206,306,406 | $124,508 | $146,200 | $135,354 |
| Unit 506 | $124,508 | $151,300 | $137,904 |
| Fifth Floor Units | $135,127 | $171,700 | $153,413 |
22During cross-examination, Mr. Rivard admits that the sales at 790 Arundel Street were between two individual companies and were not listed on the Multiple Listing Service (“MLS”) and therefore, were not open market transactions although the vendor was a Real Estate professional. Furthermore, Mr. Rivard admits that he had no quantitative evidence to support the 15% adjustment of MPAC’s opinion of value to establish the top end of his current value range. Mr. Rivard also admits that the units purchased at 790 Arundel Street ranged in size from 835 to 1,110 square feet and they all sold for the same $100,000.
Findings on Current Value
23In support of establishing current values for the subject units, the Board will rely on the six comparable property sales located at 500 Toledo Street introduced by MPAC.
24The Board has reviewed and will accept MPAC’s methodology of establishing the current values of the subject units by separating them into five categories and comparing them to the similar five categories of sales at 500 Toledo Street. MPAC has taken into consideration both the location and the size of the subject units in the building and compared them to similar units at 500 Toledo Street which sold in the vicinity of the subject property. MPAC acknowledges that the building at 500 Toledo Street is superior in terms of amenities therefore the Board agrees with MPAC that the additional amenities at 500 Toledo Street can be balanced by the fact that the subject units have larger building areas. The units at 500 Toledo Street are 1,000 square feet in comparison to the subject units under appeal which are between 1,067 and 1,174 square feet. The Board is not in agreement with MPAC that the average adjusted sale values for the units should be further adjusted upwards or downwards from the actual average adjusted sale values derived from the comparable sales. For example, MPAC adjusts the average sale value of the two-bedroom units at 500 Toledo Street from $190,389 to $195,000 without any quantitative evidence to support the adjustment. The Board finds the current value of the two-bedroom units on the second, third and fourth floors to be $190,389 or $190,000 rounded, before any adjustments for parking.
25The Board agrees with the Appellant that there is a benefit to having indoor parking but questions his estimated value of parking between $30,000 and $40,000 per space. The Appellant has not provided any quantitative evidence to support these values. Based on the value of the condominium units, it appears excessive that one parking space would be worth approximately 20% of the overall value of the condominium. To adjust for parking the Board accepts the $5,000 value which MPAC attributes to indoor parking for condominium units in the vicinity of the subject property and therefore makes a further $5,000 negative adjustment to the current value of each unit.
26The Board rejects the 15% negative adjustment for superior amenities made by the Appellant to MPAC’s opinion of value to compensate for the fact that 500 Toledo Street has superior amenities to the subject property. The Appellant has provided no sales evidence or other quantitative evidence to support this adjustment.
27The Board also rejects the 55 condominium sales at 790 Arundel Drive as these sales were never listed on MLS and therefore do not represent open market, arm’s length transactions. These units were all purchased the same day at almost 50% of the sale values of the condominiums at 500 Toledo Street. Even the Appellant recognizes that these sale values were way too low in his analysis and adjusted them with the sales at 500 Toledo Street to establish a more believable current value. The Board finds that the values put forward by the Appellant are nothing more than estimated values based on Mr. Rivard’s view and have no relationship to the open market.
28The Board will set the current value of the five categories as follows (see Table 4). These values are based on the average sale values established by MPAC for each category based on the sales at 500 Toledo Street with a further adjustment for parking. A listing of the current value of each unit can be found in Schedule A.
Table 4 - Board’s Decision
| Board’s finding of current value based on units at 500 Toledo Street | Board’s finding of current value with $5,000 adjustment for outdoor parking | |
|---|---|---|
| First Floor Units – 2 Bedrooms | $186,000 | $181,000 |
| Second to Fourth Floor Units – 2 Bedrooms | $190,000 | $185,000 |
| Units 206, 306, 406 – 1 Bedroom | $175,000 | $170,000 |
| Unit 506 – 1 Bedroom | $182,000 | $177,000 |
| Fifth Floor Units – 2 Bedrooms | $198,000 | $193,000 |
Issue 2 – Equitable Reduction in Assessed Value
29Section 44(3)(b) directs that, after determining current value, the Board shall have reference to the value at which similar lands in the vicinity are assessed and “adjust the assessment of the land to make it equitable with that of similar lands in the vicinity if such an adjustment would result in a reduction of the assessment of the land.”
30The Assessment to Sales Ratio (“ASR”) of a sample of sold properties is a tool often used to determine if a property in the vicinity is assessed below its current value. If any other property is assessed below its current value, a reduction in the assessment below current value is required to make the assessment equitable with the assessments of similar lands in the vicinity. The ASR is determined by comparing the assessment as returned to the time-adjusted sale price, expressed as a mathematical ratio.
31MPAC presented an equity analysis of 30 property sales of Residential condominium properties that occurred from January 1, 2013 to December 31, 2016 located within 0.5 kilometres of the subject property, resulting in a median ASR of 0.988. Mr. Pesek submits that MPAC’s standards indicate that for residential property, the median ASR should fall between 0.95 and 1.05. If the median ratio falls within this range, this reveals that the current value assessments are reflective of sales prices in the vicinity and therefore, no further adjustment is required. In this case the median ASR falls within the range at 0.988. Therefore, MPAC recommends no further downward adjustment is required to the current value of the subject units.
32The Appellant provided no evidence in support of an equity argument.
33The Board finds that based on MPAC’s evidence which resulted in an ASR of 0.988, no additional downward adjustment is warranted to the current value of the subject units to ensure that their assessments are equitable with the assessment of similar properties in the vicinity.
ORDER
34The Board finds that the correct current values of the subject properties, as of the January 1, 2016 valuation date, are as listed in Schedule A. Furthermore, the Board finds that no equitable reduction based on a medium ASR of 0.988 is required under s. 44(3)(b) of the Act.
35The Board orders the reduction of the assessment values of the subject units as per Schedule A, with the exception of Unit 505 (Appeal Number 3389385) which is confirmed at $173,000 for the 2019 taxation year as MPAC has not filed for an increase in value.
“Anthony LaRegina”
ANTHONY LaREGINA MEMBER
Assessment Review Board A constituent tribunal of Tribunals Ontario Website: www.tribunalsontario.ca/arb Telephone: 416-212-6349 Toll Free: 1-866-448-2248
SCHEDULE A
| ARB Appeal No. | Municipal Address | Assessment Roll Number | Returned Current Value Assessment | MPAC’s Opinion of Current Value | Appellant’s Opinion of Current Value | ARB Decision |
|---|---|---|---|---|---|---|
| 3411475 | 1221 Jasper Dr Unit 101 | 580401003228601 | $186,000 | $186,000 | $146,613 | $181,000 |
| 3389324 | 1221 Jasper Dr Unit 101 | 580401003228601 | $186,000 | $186,000 | $146,613 | $181,000 |
| 3411469 | 1221 Jasper Dr Unit 102 | 580401003228602 | $186,000 | $186,000 | $146,613 | $181,000 |
| 3389325 | 1221 Jasper Dr Unit 102 | 580401003228602 | $186,000 | $186,000 | $146,613 | $181,000 |
| 3411558 | 1221 Jasper Dr Unit 103 | 580401003228603 | $187,000 | $186,000 | $146,613 | $181,000 |
| 3389315 | 1221 Jasper Dr Unit 103 | 580401003228603 | $188,000 | $186,000 | $146,613 | $181,000 |
| 3411344 | 1221 Jasper Dr Unit 104 | 580401003228604 | $187,000 | $186,000 | $146,613 | $181,000 |
| 3389316 | 1221 Jasper Dr Unit 104 | 580401003228604 | $188,000 | $186,000 | $146,613 | $181,000 |
| 3411489 | 1221 Jasper Dr Unit 105 | 580401003228605 | $187,000 | $186,000 | $146,613 | $181,000 |
| 3389317 | 1221 Jasper Dr Unit 105 | 580401003228605 | $188,000 | $186,000 | $146,613 | $181,000 |
| 3411529 | 1221 Jasper Dr Unit 107 | 580401003228606 | $187,000 | $186,000 | $146,613 | $181,000 |
| 3389318 | 1221 Jasper Dr Unit 107 | 580401003228606 | $188,000 | $186,000 | $146,613 | $181,000 |
| 3411540 | 1221 Jasper Dr Unit 108 | 580401003228607 | $187,000 | $186,000 | $146,613 | $181,000 |
| 3389319 | 1221 Jasper Dr Unit 108 | 580401003228607 | $188,000 | $186,000 | $146,613 | $181,000 |
| 3411400 | 1221 Jasper Dr Unit 110 | 580401003228609 | $186,000 | $186,000 | $146,613 | $181,000 |
| 3389326 | 1221 Jasper Dr Unit 110 | 580401003228609 | $186,000 | $186,000 | $146,613 | $181,000 |
| 3411339 | 1221 Jasper Dr Unit 201 | 580401003228610 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389327 | 1221 Jasper Dr Unit 201 | 580401003228610 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411541 | 1221 Jasper Dr Unit 202 | 580401003228611 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389328 | 1221 Jasper Dr Unit 202 | 580401003228611 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411561 | 1221 Jasper Dr Unit 203 | 580401003228612 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389320 | 1221 Jasper Dr Unit 203 | 580401003228612 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411490 | 1221 Jasper Dr Unit 204 | 580401003228613 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389321 | 1221 Jasper Dr Unit 204 | 580401003228613 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411282 | 1221 Jasper Dr Unit 205 | 580401003228614 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389322 | 1221 Jasper Dr Unit 205 | 580401003228614 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411430 | 1221 Jasper Dr Unit 207 | 580401003228616 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389360 | 1221 Jasper Dr Unit 207 | 580401003228616 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411485 | 1221 Jasper Dr Unit 208 | 580401003228617 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389323 | 1221 Jasper Dr Unit 208 | 580401003228617 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411542 | 1221 Jasper Dr Unit 209 | 580401003228618 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389332 | 1221 Jasper Dr Unit 209 | 580401003228618 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411345 | 1221 Jasper Dr Unit 210 | 580401003228619 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389330 | 1221 Jasper Dr Unit 210 | 580401003228619 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411551 | 1221 Jasper Dr Unit 301 | 580401003228620 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389331 | 1221 Jasper Dr Unit 301 | 580401003228620 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411310 | 1221 Jasper Dr Unit 302 | 580401003228621 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389372 | 1221 Jasper Dr Unit 302 | 580401003228621 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411566 | 1221 Jasper Dr Unit 303 | 580401003228622 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389361 | 1221 Jasper Dr Unit 303 | 580401003228622 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411539 | 1221 Jasper Dr Unit 304 | 580401003228623 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389362 | 1221 Jasper Dr Unit 304 | 580401003228623 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411374 | 1221 Jasper Dr Unit 305 | 580401003228624 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389363 | 1221 Jasper Dr Unit 305 | 580401003228624 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411437 | 1221 Jasper Dr Unit 307 | 580401003228626 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389364 | 1221 Jasper Dr Unit 307 | 580401003228626 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411303 | 1221 Jasper Dr Unit 308 | 580401003228627 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389365 | 1221 Jasper Dr Unit 308 | 580401003228627 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411528 | 1221 Jasper Dr Unit 309 | 580401003228628 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389374 | 1221 Jasper Dr Unit 309 | 580401003228628 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411353 | 1221 Jasper Dr Unit 310 | 580401003228629 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389375 | 1221 Jasper Dr Unit 310 | 580401003228629 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411451 | 1221 Jasper Dr Unit 401 | 580401003228630 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389376 | 1221 Jasper Dr Unit 401 | 580401003228630 | $180,000 | $195,000 | $150,438 | $185,000 |
| 3411315 | 1221 Jasper Dr Unit 402 | 580401003228631 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389377 | 1221 Jasper Dr Unit 402 | 580401003228631 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411399 | 1221 Jasper Dr Unit 403 | 580401003228632 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389366 | 1221 Jasper Dr Unit 403 | 580401003228632 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411314 | 1221 Jasper Dr Unit 404 | 580401003228633 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389367 | 1221 Jasper Dr Unit 404 | 580401003228633 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411347 | 1221 Jasper Dr Unit 405 | 580401003228634 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389368 | 1221 Jasper Dr Unit 405 | 580401003228634 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411426 | 1221 Jasper Dr Unit 407 | 580401003228636 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389369 | 1221 Jasper Dr Unit 407 | 580401003228636 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411265 | 1221 Jasper Dr Unit 408 | 580401003228637 | $196,000 | $195,000 | $150,438 | $185,000 |
| 3389370 | 1221 Jasper Dr Unit 408 | 580401003228637 | $197,000 | $195,000 | $150,438 | $185,000 |
| 3411348 | 1221 Jasper Dr Unit 409 | 580401003228638 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389379 | 1221 Jasper Dr Unit 409 | 580401003228638 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411275 | 1221 Jasper Dr Unit 410 | 580401003228639 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3389380 | 1221 Jasper Dr Unit 410 | 580401003228639 | $195,000 | $195,000 | $150,438 | $185,000 |
| 3411530 | 1221 Jasper Dr Unit 206 | 580401003228615 | $172,000 | $172,000 | $135,354 | $170,000 |
| 3389329 | 1221 Jasper Dr Unit 206 | 580401003228615 | $172,000 | $172,000 | $135,354 | $170,000 |
| 3411578 | 1221 Jasper Dr Unit 306 | 580401003228625 | $172,000 | $172,000 | $135,354 | $170,000 |
| 3389373 | 1221 Jasper Dr Unit 306 | 580401003228625 | $172,000 | $172,000 | $135,354 | $170,000 |
| 3411483 | 1221 Jasper Dr Unit 406 | 580401003228635 | $172,000 | $172,000 | $135,354 | $170,000 |
| 3389378 | 1221 Jasper Dr Unit 406 | 580401003228635 | $172,000 | $172,000 | $135,354 | $170,000 |
| 3411487 | 1221 Jasper Dr Unit 506 | 580401003228645 | $178,000 | $178,000 | $137,904 | $177,000 |
| 3389371 | 1221 Jasper Dr Unit 506 | 580401003228645 | $196,000 | $178,000 | $137,904 | $177,000 |
| 3411260 | 1221 Jasper Dr Unit 501 | 580401003228640 | $202,000 | $202,000 | $153,413 | $193,000 |
| 3389381 | 1221 Jasper Dr Unit 501 | 580401003228640 | $195,000 | $202,000 | $153,413 | $193,000 |
| 3411354 | 1221 Jasper Dr Unit 502 | 580401003228641 | $202,000 | $202,000 | $153,413 | $193,000 |
| 3389382 | 1221 Jasper Dr Unit 502 | 580401003228641 | $195,000 | $202,000 | $153,413 | $193,000 |
| 3411468 | 1221 Jasper Dr Unit 503 | 580401003228642 | $203,000 | $202,000 | $153,413 | $193,000 |
| 3389383 | 1221 Jasper Dr Unit 503 | 580401003228642 | $197,000 | $202,000 | $153,413 | $193,000 |
| 3411523 | 1221 Jasper Dr Unit 504 | 580401003228643 | $203,000 | $202,000 | $153,413 | $193,000 |
| 3389384 | 1221 Jasper Dr Unit 504 | 580401003228643 | $197,000 | $202,000 | $153,413 | $193,000 |
| 3411465 | 1221 Jasper Dr Unit 505 | 580401003228644 | $203,000 | $202,000 | $153,413 | $193,000 |
| 3389385 | 1221 Jasper Dr Unit 505 | 580401003228644 | $173,000 | $202,000 | $153,413 | $173,000* |
| 3411502 | 1221 Jasper Dr Unit 507 | 580401003228646 | $203,000 | $202,000 | $153,413 | $193,000 |
| 3389386 | 1221 Jasper Dr Unit 507 | 580401003228646 | $197,000 | $202,000 | $153,413 | $193,000 |
| 3411443 | 1221 Jasper Dr Unit 508 | 580401003228647 | $203,000 | $202,000 | $153,413 | $193,000 |
| 3389387 | 1221 Jasper Dr Unit 508 | 580401003228647 | $195,000 | $202,000 | $153,413 | $193,000 |
| 3411259 | 1221 Jasper Dr Unit 509 | 580401003228648 | $202,000 | $202,000 | $153,413 | $193,000 |
| 3389388 | 1221 Jasper Dr Unit 509 | 580401003228648 | $195,000 | $202,000 | $153,413 | $193,000 |
| 3411466 | 1221 Jasper Dr Unit 510 | 580401003228649 | $202,000 | $202,000 | $153,413 | $193,000 |
| 3389389 | 1221 Jasper Dr Unit 510 | 580401003228649 | $195,000 | $202,000 | $153,413 | $193,000 |
* 2019 appeal for Unit 505 had a returned value of $173,000. This value is confirmed at $173,000 as MPAC did not seek an increase in value. 2020 appeal for Unit 505 is reduced from $203,000 to $193,000 which is reflective of all other two-bedroom units on the 5th floor.