Communitywatch  
 
 
 

 

 
 
The primary benefits of the Homestead Act include:
• A cap on residential property assessment increases for tax purposes at five per cent 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
• A tax break for seniors and the disabled, who would not pay property taxes on the first $10,000 of assessed value for their principal residence.

 

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