Great Universal Stores Ltd. v. Minister of Municipal Affairs (N.B.), (1969) 1 N.B.R.(2d) 174 (CA)

JudgeBridges, C.J.N.B., Ritchie and Limerick, JJ.A.
CourtCourt of Appeal (New Brunswick)
Case DateJanuary 01, 1967
JurisdictionNew Brunswick
Citations(1969), 1 N.B.R.(2d) 174 (CA)

Great Universal Stores Ltd. v. N.B. (1969), 1 N.B.R.(2d) 174 (CA);

    1 R.N.-B.(2e) 174

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Great Universal Stores Limited v. The Minister of Municipal Affairs

Indexed As: Great Universal Stores Ltd. v. Minister of Municipal Affairs (N.B.)

Répertorié: Great Universal Stores Ltd. v. Minister of Municipal Affairs (N.B.)

New Brunswick Court of Appeal

Bridges, C.J.N.B., Ritchie and Limerick, JJ.A.

January 30, 1969.

Summary:

Résumé:

The New Brunswick Court of Appeal directed that the Minister's assessment of the value of a business property be reduced from $171,945 to $115,000 and that the appeal be allowed from the assessment of the Appeals Tribunal of $162,253.

The New Brunswick Court of Appeal stated that the best evidence of the value of the appellant's business property as of January 1, 1967 is the selling price of the subject property of $115,000 made in 1964 in the open market between a willing seller and a willing buyer. Court stated that the evidence offered by the Minister's assessor based on land valuation plus replacement value of buildings less depreciation was based on information and facts less persuasive than the evidence of the sales price of the subject property in 1964.

Real Property Tax - Topic 3702

Valuation - Business property, replacement cost - Circumstances when replacement cost may be used - Taxation - Assessment of realty - Section 15 of the Assessment Act - "Real and true value" defined - Weight of assessor's opinion versus evidence of recent sale of property in question (New Brunswick Court of Appeal).

Cases Noticed:

Saint John Harbour Bridge Authority v. J.M. Driscoll Limited, [1968] S.C.R. 633, folld.

Statutes Noticed:

Assessment Act, Acts of New Brunswick 1965-66, c. 110, sect. 5, sect. 6, sect. 15, sect. 31, sect. 33, sect. 34, sect. 36, sect. 37.

Counsel:

Lorraine Olmstead, for appellant;

H.W. Hickman, Q.C., for respondent.

The judgment of the Court was delivered by Limerick, J.A.

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