An Ontario NDP government would freeze property tax assessments for individual homes on the market until the home is sold or undergoes major renovations, Howard Hampton said Wednesday.
The New Democrat leader said seniors and people on fixed incomes are losing their properties because they can't afford the increase after the jump in market value in the current system under Dalton McGuinty's Liberals.
If the New Democrats win the Oct. 10 provincial election, Hampton said, they will change the system so that people selling their houses would be taxed at the level they were on Jan. 1, 2005, until a new owner takes possession.
"Our plan would give greater predictability, greater reliability, but would also be revenue-neutral for municipalities," Hampton told reporters in downtown Toronto.
Hampton said if homeowners spent more than $40,000 refurbishing their homes, the property would be taxed at the new value.
Rental homes would also be assessed at a higher level, he said.
Last summer, the Liberal government cancelled property tax assessments for the next two years while the Municipal Property Assessment Corporation — which evaluates property values in the province for tax purposes — tries to make significant changes to its controversial assessment system.
The two-year freeze came after Ontario Ombudsman André Marin released a highly critical report calling for major reform of the corporation's methods.
Ontario homeowners complained that those methods produce inconsistent assessments that are far different from the actual sale price of the properties.
Related
Ontario Votes 2007 »
- McGuinty wins massive majority, Tory loses seat
- Dalton McGuinty won a second majority government for the Liberals in Ontario on Wednesday night, a triumph for a party that earlier expressed fears of a drop to minority status.
- Ontario rejects electoral reform in referendum
- Ontario voters have rejected a proposed electoral reform that would have seen some provincial legislators chosen based on a party's share of the popular vote, results showed Thursday.
- Ontario voter turnout a record low
- The percentage of eligible voters casting ballots in Wednesday's Ontario election hit an all-time low despite changes introduced in an effort to boost turnout.
- Ont. Green party scores 8 per cent of vote
- No Green party candidates made it to the Ontario legislature in Wednesday's election, but that defeat was sweetened by a swell in their share of the popular vote, which more than doubled.
- McGuinty only leader not facing leadership questions
- Liberal Leader Dalton McGuinty won re-election in Ottawa South and NDP Leader Howard Hampton again won his northern Ontario riding of Kenora-Rainy River. PC Leader John Tory was defeated.
District Profiles
More Ontario Votes Headlines »
- McGuinty wins massive majority, Tory loses seat
- Dalton McGuinty won a second majority government for the Liberals in Ontario on Wednesday night, a triumph for a party that earlier expressed fears of a drop to minority status.
- Ontario rejects electoral reform in referendum
- Ontario voters have rejected a proposed electoral reform that would have seen some provincial legislators chosen based on a party's share of the popular vote, results showed Thursday.
- Ontario voter turnout a record low
- The percentage of eligible voters casting ballots in Wednesday's Ontario election hit an all-time low despite changes introduced in an effort to boost turnout.
- Ont. Green party scores 8 per cent of vote
- No Green party candidates made it to the Ontario legislature in Wednesday's election, but that defeat was sweetened by a swell in their share of the popular vote, which more than doubled.
- McGuinty only leader not facing leadership questions
- Liberal Leader Dalton McGuinty won re-election in Ottawa South and NDP Leader Howard Hampton again won his northern Ontario riding of Kenora-Rainy River. PC Leader John Tory was defeated.
