For properties with assessed values exceeding the threshold amount, the home owner grant will be phased out. Effective for the 2005 tax year, the rate at which the grant is phased out is reduced to $5 from $10 for each $1,000 of assessed value above the threshold. More than 95 per cent of eligible homeowners are expected to receive the grant in 2005. See the Ministry of Revenue Property Tax Evaluation website for more details.