While Ontario remained locked in the deep freeze of winter last month, a freeze of a different kind was lifted that could leave some Ontario homeowners out in the cold.

On January 1, 2008, the McGuinty government lifted its three-year freeze on property assessments, which will soon result in a triple whammy of assessment increases. The Premier cynically froze assessments until conveniently after the 2007 election. But like putting a lid on a boiling pot of water, the effects of that decision are now spilling over and homeowners will be receiving three years of assessment hikes all at once.

In his March 2006 report on Municipal Property Assessment Corporation (MPAC) operations, the Ombudsman of Ontario, Andre Marin, said property assessments had skyrocketed in recent years. According to the report, the average assessed home in Ontario leapt 30 per cent from $179,151 in the 2003 taxation year to $232,883 in the 2006 taxation year. More than 100,000 homeowners received assessment increases between 30 per cent and 150 per cent in 2006.

And now, Ontarians are bracing for an assessment that covers a period (January 1, 2005 to January 1, 2008) that is double the period between the previous assessments (June 30, 2003 to January 1, 2005).

It’s still not too late to protect homeowners from the triple whammy assessment spike. That is why I have called on the Premier to immediately call for debate my Private Member’s Bill – the Homestead Act 2007 – which would cap property assessment increases for tax purposes at a maximum of five per cent per year for as long as a person or their spouse owns their home.

When I first introduced the Homestead Act in 2006, it received support from members of all parties, including 10 Liberal MPPs who helped it pass second reading. Unfortunately, the Premier would not call for a third reading of the Homestead Act, and the Bill died on the parchment when the Legislature ended early for the election campaign.

Working families, seniors on fixed incomes and young people are already facing higher taxes, higher home heating costs, increased user fees and escalating energy costs in Dalton McGuinty’s Ontario. And now they will face assessment increases and resultant tax increases that will be simply unaffordable for many beleaguered Ontario homeowners.

Premier McGuinty must act quickly and decisively. Capping property assessments will bring stability to taxpayers and help preserve the Canadian value of home ownership.