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On November 6, 2025, the Ontario Government released its highly anticipated 2025 Fall Economic Statement ("Statement"). Unfortunately for Ontario property taxpayers, the Statement falls short of providing any meaningful update on the future of Ontario's property tax and assessment framework.
The Statement assures Ontarians that the government will continue to consider adding initiatives to ensure an effective property tax system and advises that amendments are being proposed to the Assessment Act to support and simplify property tax administration. However, the Statement offers no specifics on those initiatives, and no indication of when taxpayers can expect a province-wide general reassessment. With no update on the general reassessment, Ontario will round into year 10 of what was only supposed to be a four-year assessment cycle and will maintain an unequal distribution of the tax burden based on 2016 values.
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