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Mayor Richard Daley called on state legislators Wednesday to fix what he said were long-term problems with the way property is assessed for tax purposes. "Short-term relief is not enough," Daley said. "Last year, after property assessments shot up, sometimes dramatically and unexpectedly, I said it was time to fundamentally reform the property assessment system." Daley said he backs reforms proposed last month by Cook County Assessor Jim Houlihan but thinks, "unfortunately, they do not go far enough to address issues related to the next reassessment in Chicago." The next reassessment in the city is in 2006. "We still need to consider proposals that in one way or another cap assessments," Daley said, calling for an extension of a 7 percent annual cap on assessments enacted by the Legislature last year. The law was passed after widespread shock arose around the county over reassessments that increased property values 70 percent in some cases. Daley also wants Houlihan to change the formula for how property is assessed in neighborhoods where old buildings are torn down and replaced. "Someone builds a home on your block for $800,000, why should you be penalized for that?" Daley said. "You lived there all your life, you work ... That's where it's all out of whack." Houlihan spokeswoman Michelle Kucera said the assessor supports a change in the formula, but can't do it without approval from Springfield. "We have to assess properties at their fair market value and we have to follow the law in doing so," Kucera said. Daley said he also supports Houlihan's proposal to allow the county to apply adjustments to tax bills annually based on estimated increases in property values. The adjustments would help soften the blow of the actual reassessment, which only happens once every three years. "Other counties have this option, and we really believe we should have this option," Daley said. Other reforms Daley backed included making the senior homeowner exemption permanent, so seniors will not have to reapply every year; allowing Chicago to fight property tax appeals in court instead of relying on the Cook County state's attorney's office; and preventing major property tax payers from seeking tax refunds based on technical problems in the state's budget.