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Property assessment of $263,000 confirmed; direct sales comparison approach supported the returned value.
The appellants appealed the property assessment of their single-storey detached residential dwelling for the 2017 and 2018 taxation years, arguing the returned value of $263,000 was too high.
MPAC defended the assessment using the direct sales comparison approach, presenting comparable properties and an equity analysis.
The Assessment Review Board found that the subject property was assessed below the range, median, and average values of the comparable properties, and that no equity adjustment was warranted.
The Board confirmed the assessment at $263,000.
