Assessment limits for Ontario

"Since Proposition 13 was first introduced in California over 30 years ago, most US states have implemented some form of limit on property tax rates, tax revenues, or property tax increases arising from reassessments (assessment limits). What if Ontario had implemented a limit on assessment increases thirty years ago along the lines of Proposition 13? Who would be the winners today? Who would be the losers? This report evaluates the impact of assessment limits on property taxpayers and identifies some of the potential unintended consequences of imposing these limits (even for properties that are supposed to be protected by the limits). The evaluation is based, to some extent, on the experience and analysis of assessment limits in the US but, more significantly, on the results of a simulation of the impact on Ontario property taxpayers if assessment capping had been introduced in this province in 1980."