TORONTO, Sept. 24 /CNW/ - Earlier today Dalton McGuinty claimed that John
Tory's plan to cap assessments would result in "Rexdale...subsidizing
Here are the facts:
According to data from the Municipal Property Assessment Corporation, as
reported in the Globe and Mail on October 19, 2005, property values in
Toronto Ward 27 - which encompasses Rosedale - increased by 5.9%. On the
other hand, property values in Wards 1 and 2 - which encompass Rexdale -
increased by 9.3% and 10.3%, respectively.
Once again, Dalton McGuinty is quick to quip but his rhetoric is not
grounded in reality. Rexdale would clearly be far better off with a cap than
According to analysis by the Coalition After Property Tax Reform, 80% of
the beneficiaries of a capped system own properties valued at less than
All property owners would be winners over time with a more predictable
and stable property tax regime provided by an assessment cap.
Dalton McGuinty's plan, by contrast, does nothing to protect Ontarians
from out-of-control increases in their property assessments.
It's time for Dalton to go back to school.
For further information:
For further information: Mike Van Soelen, (647) 722-1760