QUEEN’S PARK– Today Erie-Lincoln MPP Tim Hudak’s Homestead Act came one step closer to becoming law, as it passed Second Reading in the Ontario Legislature. Taxpayers from across Ontario, including municipal leaders, ratepayer groups and seniors groups filled the public galleries in a strong showing of support for the Act.

“Now that all three parties in the Legislative Assembly have supported second reading debate and passed the Homestead Act, 2006, it is imperative that the McGuinty Liberals quickly send the bill to committee and then to third reading debate in the house”, said MPP Garfield Dunlop. “I am very pleased that I was able to speak to MPP Tim Hudak’s bill today and believe that when passed will bring tax relief to many concerned and overtaxed property owners”.

Among others, the three primary benefits on the Homestead Act, 2006 include:

	A cap on residential property assessment increases for tax purposes at five percent per year as long as home ownership is maintained
	The ability for Ontario homeowners to make up to $25,000 in home repairs, alterations, improvements or additions without facing an increase in their property assessment
	Seniors and the disabled would not pay property taxes on the first $10,000 of assessed value for their principal residence.

Similar legislation to cap increases in residential property assessments exists in Nova Scotia, Arizona, California, Florida, Michigan, Minnesota, Maryland, New Mexico, Oregon and Texas.

The Homestead Act has been referred to Legislative Committee on General Government, Hudak will be pushing to have Committee hearings at the earliest possible date.

Contact:
Garfield Dunlop
(705) 327-4500 (cell)