By Peter Shurman
On April 23, I reintroduced my private member?s bill, Bill 171 the Property Tax Deferral Act, 2009.
I decided to introduce Bill 171, which would implement a province-wide property tax deferral program for seniors and persons with disabilities, because I believe that in these times of economic difficulty, the ability to defer property tax payments is what senior residents of Thornhill need.
In the current economic climate, Ontarians are encountering significant challenges in balancing their household budgets. Our seniors are now faced not only with an increasingly difficult economy, but they have also been hit hard with recent MPAC assessments, which increase the property taxes that they will have to pay for their homes.
When my proposal was last debated in the legislature, my colleagues and exceptional stakeholders from the riding provided significant feedback on my initiative, and I included many of their recommendations in the updated version of my proposal.
Some municipalities? deferral programs, instead of considering the actual property tax payment, outline a maximum allowable property value. As we all know, property values differ from municipality to municipality, with residents in areas like Thornhill getting higher assessments for their home, therefore higher property taxes, than residents in other regions. To eliminate this inequality, my private member?s bill outlines a maximum property tax deferral amount of $5,000.
My proposal will ensure that Ontario will implement a province-wide property tax deferral system for seniors and persons with disabilities, and will allow those Ontarians, regardless of the municipality in which they reside, greater flexibility to manage their finances by deferring property taxes.
Teresa Panezutti, president of the Concord West Seniors Club, said, ?Bill 171 will provide seniors with the option to stay in their own homes and to live their lives the way they deserve to, all while being able to afford it. Being able to defer their property taxes will allow seniors to have money in their pockets which is very important especially during these tough economic times.?
Having support from members of the community proves to me that this is the right thing to do for my constituents. Everyone deserves to stay in their own home no matter their age and this bill will help them do just that. I invite you to contact my office to find out more about Bill 171 and how it will help you better manage your household budget.