Our last article was the first part of the case summary of Antrim Truck Centre Ltd v Ontario (Transportation), 2013 SCC 13, in which we summarized the facts and judicial history of the decision, and began the summary of the Supreme Court of Canada’s analysis. This is the second part...
On March 7, 2013, the Supreme Court of Canada released its decision in Antrim Truck Centre Ltd v Ontario (Transportation), 2013 SCC 13, allowing the appeal and overturning the decision of the Ontario Court of Appeal. Our case summary of the Ontario Court of Appeal decision was posted on October 15, 2012. With the blog-medium in mind, this case summary will be broken into two parts in order to keep the articles to a reasonable length...
On October 15, 2012, we posted a summary of Antrim Truck Centre Limited v Ontario (Transportation), 2011 ONCA 419 noting that at that time, the case was under appeal to the Supreme Court of Canada...
Once the appraiser has determined the highest and best use of the land, the next step is to determine the price that such land would bring on the open market. The most common method used by appraisers is the Direct Comparison Approach...
In our last blog entry, we looked at the “Highest and Best Use” analysis in determining the market value of land in the expropriation context. This article is intended to expand upon the principles in that article.
The highest and best use of land is the cornerstone of determining its market value. This conclusion must be reached before the remainder of the appraisal analysis can be undertaken. Quite simply, if the highest and best use conclusion is incorrect, the ultimate conclusion reached on market value stands little chance of being correct. The highest and best use analysis is the one area which forensic appraisers frequently fail to consider in proper depth...
Expropriation legislation in all Canadian jurisdictions requires that expropriated landowners be compensated for the land taken from them. The underlying theory of land compensation is the concept of “market value”. This requires an objective assessment of what the land taken was worth on the date of expropriation.