Isiah Apartments Ltd., Heritage Acres Ltd. and S & S Corp. Ltd. v. Minister of Municipal Affairs, (1984) 53 N.B.R.(2d) 176 (CA)

• Judge: Hughes, C.J.N.B., Ryan and La Forest, JJ.A.
• Court: Court of Appeal (New Brunswick)
• Case Date: October 19, 1983
• Jurisdiction: New Brunswick
• Citations: (1984), 53 N.B.R.(2d) 176 (CA)

Isiah Apartments Ltd. v. N.B. (1984), 53 N.B.R.(2d) 176 (CA);

    53 R.N.-B.(2e) 176; 138 A.P.R. 176

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[French language version follows English language version]

[La version française vient à la suite de la version anglaise]

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Isiah Apartments Ltd., Heritage Acres Ltd. and S & S Corporation Ltd. v. Minister of Municipal Affairs

(No. 147/83/CA)

Indexed As: Isiah Apartments Ltd., Heritage Acres Ltd. and S & S Corp. Ltd. v. Minister of Municipal Affairs

Répertorié: Isiah Apartments Ltd., Heritage Acres Ltd. and S & S Corp. Ltd. v. Minister of Municipal Affairs

New Brunswick Court of Appeal

Hughes, C.J.N.B., Ryan and La Forest, JJ.A.

February 29, 1984.

Summary:

Résumé:

The owners of the three apartment buildings appealed to the Minister of Municipal Affairs against their real property tax assessments. The Minister affirmed each assessment. The owners appealed to the Appeals Tribunal.

The Appeals Tribunal dismissed the appeals. The owners appealed to the Court of Appeal.

The New Brunswick Court of Appeal dismissed the appeals.

Real Property Tax - Topic 3621

Valuation - Business property - Market value - General - The New Brunswick Court of Appeal held that any estimate of the market value of real property based solely on the commercial mortgage interest rates prevailing at the appropriate date is not a reliable basis upon which to determine real and true market value - See paragraph 9.

Counsel:

Alan D. Schelew, for the appellant;

Richard P. Burns, for the respondent.

These appeals were heard before Hughes, C.J.N.B., Ryan and La Forest, JJ.A., of the New Brunswick Court of Appeal, on October 19, 1983. The decision of the Court of Appeal was delivered on February 29, 1984.