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Communitywatch |
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| 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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