Homestead Act, 2007 Hudak, Tim — Bill 28 (39th Parliament, 1st Session)

Bill 28, 39-1

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Bill 28, Homestead Act, 2007

Hudak, Tim

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[39] Bill 28 Original (PDF)

Bill 28 2007

Act to amend the Assessment Act with respect to homesteads

Note:

This Act amends the Assessment Act . For the

legislative history of the Act, see the Table of Consolidated Public Statutes –

Detailed Legislative History on www.e-Laws.gov.on.ca.

Her

Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Section

19 of the Assessment Act is amended by

adding the following subsections:

Repairs

(1.1) Despite subsection (1), for purposes of taxation

years after 2012, if an owner of land in the residential property class has

repairs, alterations, improvements or additions made to the land between the

immediately preceding valuation day and the current valuation day as they are determined

under subsection 19.2 (1) and if there is an increase in the current value of

the land attributable to the repairs, alterations, improvements or additions,

the current value of the land for the taxation year shall be based on the

current value less the amount set out in subsection (1.3) if the owner submits

receipts for the repairs, alterations, improvements or additions to the clerk

of the municipality in which the land is located within 180 days after the

current valuation day.

Disallowance

of claims

(1.2) The municipality mentioned in subsection (1.1) may,

in the assessment roll returned to the clerk under

section 36, disallow, in

whole or in part, a receipt submitted under that subsection.

Reduction

in current value

(1.3) The amount for the purpose of subsection (1.1) is

the lesser of,

(a) $100,000;

and

(

b) the

value of the repairs, alterations, improvements or additions less,

(

i) the

amount that the municipality disallows under subsection (1.2), if the

assessment is not appealed to the Assessment Review Board, or

(ii) the

amount that the Assessment Review Board disallows in the assessment roll that

the registrar of the Board certifies under

section 36, if the assessment is

appealed to the Board.

Section

19.1 of the Act is amended by adding the following subsections:

Maximum

taxable assessed value, residential land class

(5) Despite subsections (3) and (4), if after applying the

rules under those subsections the resulting assessment of land in the

residential property class for a taxation year after 2008 is more than 5 per

cent greater than the assessment of the land for the immediately preceding

taxation year, the maximum increase in the assessment for the land shall be 5

per cent if the owner of the land on the valuation day for the taxation year

is,

(

a) the

same as the owner of the land on the valuation day for the immediately

preceding taxation year; or

(

b) a

spouse of the owner of the land on the valuation day for the immediately

preceding taxation year.

Definitions

(6) In subsection (5),

"spouse"

has the same meaning as in

Part III of the Family Law Act ;

(" conjoint ")

"valuation day" means the day as of which land is valued for a taxation

year as determined under subsection 19.2 (1). (" jour de l'évaluation ")

Reductions

for seniors and disabled persons

(7) Whether or not subsection (5) results in a decrease in

the assessment of land for a taxation year after 2008, if the land is the

principal residence of the owner as defined in subsection 8 (1) of the Income Tax Act , the assessment shall be reduced by an

amount equal to the lesser of,

(

a) the

assessment; and

(b) $10,000

times one-twelfth of the number of months, or part of a month, in the taxation

year in which the owner of the land is at least 65 years of age or is disabled.

3. The

Act is amended by adding the following section:

Record

of current value assessment

36.2 The

assessment corporation shall maintain a record of the assessment of all parcels

of land if the assessment is based on the current value of the parcel and shall

provide a copy of the record with respect to a parcel of land to the owner of

the parcel within 24 hours at no charge upon request.

Section

40 of the Act is amended by adding the following subsection:

Onus

of proving increase in value

(8.1) If value of the land is a ground of complaint that

is proceeded with, the onus of proving that there has been an increase in the

value over the value on which the immediately preceding assessment of the land

is based lies with the assessment corporation.

Commencement

5. This

Act comes into force on the day it receives Royal Assent.

Short

title

6. The

short title of this Act is the Homestead Act, 2007 .

EXPLANATORY

NOTE

The

Bill amends the Assessment Act with respect to

assessments for a taxation year after 2008.

The

Bill provides that the first $100,000 in repairs, alterations, improvements or

additions that an owner of residential land has made over a period of four

years will not be considered to increase the current value of the land for

assessment purposes if the municipality in which the land is located or the

Assessment Review Board does not disallow, in the assessment roll, the value of

the work done.

The

Bill also imposes a cap of 5 per cent on the increase that can occur in the

assessment of residential land if the owner of the land is the same as the

owner of the land in the immediately preceding taxation year or is a spouse of

that owner.

The

assessment of a principal residence is reduced by an amount up to $10,000 for

the number of months of a taxation year during which the owner is at least 65

years of age or is disabled.

The

Municipal Property Assessment Corporation is required to maintain a record of

the assessment of land based on its current value and to provide a copy of the

record to land owners within 24 hours at no charge upon request.

the current value of land is an issue on an appeal of an assessment to the

Assessment Review Board, the onus of proving that there has been an increase in

the value over the value on which the immediately preceding assessment of the

land is based lies with the Municipal Property Assessment Corporation.

Date Bill stage Activity Committee

December 13, 2007

First Reading

Carried

Debates and Progress

First Reading

December 13, 2007

Second Reading

Committee

Third Reading

Royal Assent :

Coming into force :

Royal Assent.

Acts affected - Bill 28

Most Ontario public acts are available electronically; to view copies of the Acts to be amended by this bill visit e-laws

Assessment Act

Legislative Assembly of Ontario

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Document details

Collection	Ontario — Bills
Citation	Bill 28, 39-1
Type	bill
Volume / chapter	p39 s1 bill 28 html
Language	en
Format	html
Source	PROVINCIAL
Identifier	878eb3cd75005db7df3a2cee69ec487ac217fd38

Source file is stored in the law ingest library (html).