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REAL PROPERTY TAX - Assessment - Valuation of land - Business property

Friday, July 20, 2018 @ 8:08 AM  

Appeal by City Centre Equity and two others from a decision by the Assessment Appeals Committee of the Saskatchewan Municipal Board of Revision. The City of Regina assessed commercial office buildings using an income approach. The median capitalization rate in respect of the net rental income stream was determined using six comparable sales, including the sale by Saskatchewan Government Insurance (SGI) of its one-third interest in a particular property, 1800 Hamilton, to another co-owner, SaskPen. The sale price of SGI’s interest was $13.8 million, representing one-third...