March 12, 2007
Reducing Property Taxes - Real Property Tax Reform
Real property tax reform needs to stick to hard and fast parameter – parameters that future politicians can not evade or dance around. Our neighbors to the North are attempting reducing property taxes by imposing a hard number on the tax increase limit.
A provincial Conservative government would limit annual property-tax assessment increases to a maximum of 5% for as long as an individual owns the home, party leader John Tory promised yesterday.
Tory said the cap would remain in place if the home is transferred to a spouse. "Seniors, people on fixed incomes and, indeed, all homeowners deserve stability; they deserve the certainty that they can afford to keep living in their home," he said.
Filed under Blog, Reducing Property Taxes by George Bolton
