QUEEN’S PARK – Tim Hudak, MPP Niagara West-Glanbrook, called on Premier Dalton McGuinty yesterday to place a cap on skyrocketing property assessments before homeowners get hit with a triple whammy of assessments this fall that could more than double their assessment and boost their property taxes through the roof.

Tim Hudak called on Premier McGuinty in the Legislature to cap property assessment increases before homeowners are hit with a triple whammy of increases this yearThe Coalition For Property Tax Reform (CAPTR) and Waterfront Ratepayers After Fair Taxation (WRAFT) released a report today by respected real estate firm, Cushman Wafefield LePage, which predicted homeowners may experience assessment increases of up to 154 per cent, following the removal of a three-year freeze on assessments imposed by the McGuinty government. Cushman Wafefield LePage looked at recent property sales in areas selected for the report and compared them to prices before the assessment freeze. It then approximated what would happen if these properties received three years of assessment increases all at once.

In light of this report’s findings, Hudak asked in the Legislature yesterday if the Premier would do the right thing and cap property assessment increases. Watch video of Tim Hudak’s question to the Premier by clicking here: http://www.timhudakmpp.com/newsroom/hudak-calls-premier-cap-skyrocketing...

“As you know, this fall taxpayers will receive a triple whammy of property assessment increases all at once,” Hudak said from the Assembly floor. “This courtesy of Dalton McGuinty’s cynical move to freeze assessments until, coincidentally, after the last election.”

In December, Hudak re-introduced his private member’s bill – the Homestead Act, 2007 – which would impose a cap of five per cent per year on assessment increases, providing homeowners, particularly seniors and young families, with much needed relieve from the tax hikes that typically come with skyrocketing property assessments.

“Whether they live in Grimsby, Ottawa or London, homeowners can expect high double-digit or triple-digit increases in the property assessments this September,” Hudak said. “Given this result from the real estate firm, will the (Premier) agree to cap assessments before taxpayers get hit with a triple whammy this fall?”

CAPTR and WRAFT are undertaking an online petition through their websites: www.captr.org and www.wraft.org, which they will deliver to Queen’s Park later this year. The petition asks the McGuinty government to simply take another look at the property tax system.