A new proposal in a Canada Mortgage Housing Corporation (CMHC)-backed report stops short of calling for that but suggests homeowners pay a surtax on properties worth more than a million dollars to help stall rising home prices.

The report by Generation Squeeze, with funding support from the National Housing Strategy's Solutions Labs Program administered by the CMHC, suggests starting at 0.2 per cent of a home's value over $1 million annually and peaking at one per cent for higher-priced homes.

Owners with homes valued between $1 million and $1.5 million would pay 0.2 per cent. The next bracket, up to $2 million, would pay 0.5 per cent. Anything over $2 million owes one per cent.