Tory announces plan to provide stability to homeowners

Progressive Conservative Leader and local MPP John Tory announced a plan to protect Ontario homeowners from runaway property assessment increases that put some people at risk of losing their homes.

"The property assessment system in Ontario has spiralled out of control and is hurting homeowners," said Tory. "Many families worry that skyrocketing increases to their property assessments may soon leave them unable to afford to continue living in their own homes."

Tory and PC finance critic Tim Hudak announced the plan at the Toronto home of Gordon and Marian Cook, a retired couple who have experienced a property assessment increase of more than 37% in the past three years. Under Dalton McGuinty's current approach, the Cook family could face skyrocketing property assessments and a huge increase in 2008 after the election when a McGuinty government freeze ends. Tory's plan would protect them and other homeowners by:

* Establishing a 5% annual cap on property assessment increases for as long as an individual owns their home (including if a property is transferred to a spouse).

* Implementing a new reverse onus appeal system so the Municipal Property Assessment Corporation (MPAC) will have to justify an assessment increase instead of placing the burden of proof on the homeowner.

* Ensuring MPAC fully implements the recommendations of the Ombudsman, and if the serious problems identified by the Ombudsman have not been addressed, shutting down MPAC and building a better model.

Tory also said a PC government will also address rural assessment inequalities that currently penalize Ontario farmers. The PC policy will ensure that farmers who are encouraged to have value-added production services are not subject to unfair property tax assessments.

"These measures are practical, realistic and fair. They are the result of real consultations with homeowner groups and they are an important first step towards giving Ontario's property taxpayers a long overdue break," said Tory. "This plan stands in stark contrast with Dalton McGuinty's approach which, in short, has been to do nothing."