Assessment and Taxation

Understanding assessed values & your property taxes

Every property in Winnipeg has an assessed value, which is the dollar value assigned to a home or other piece of property for tax purposes. The City of Winnipeg conducts a general assessment in accordance with legislation, also known as a reassessment, to assign new values for all properties in the city so they align more closely with current market values.

2025 reassessment

The City completed a reassessment for 2025 and properties have been revalued based on their market value as of April 1, 2023.

If your assessment has increased for 2025, it does not mean there will be an equivalent increase in your 2025 municipal property taxes. Any change to your 2025 municipal property taxes is dependent on the following items:

• Property tax rates: Any increase in property taxes announced as part of the City’s annual budget update will result in an increase to your municipal property taxes. The City budgeted for a property tax increase of 5.95% for 2025.
• Frontage levies: There is no change planned in 2025 to the frontage levy rate of $6.95 per foot of property frontage.
• How your assessed value compares with other properties: The increase in the assessed value of your property compared with the average change for all properties in Winnipeg will affect how much your municipal property taxes may increase. The 2025 general assessment resulted in an average increase of approximately 9.5% in the assessed value of properties in Winnipeg. This means your municipal property taxes for 2025 are only affected by the new assessed value of your property if it has changed by more or less than 9.5%.

Considering these items, properties may experience a municipal property tax increase higher or lower than the announced property tax rate change (increase of 5.95%) depending on how their new assessed value compares with the City’s average change in assessment value (9.5% increase).

How the percent change in assessed value can impact municipal property taxes

The information below further explains the impact of assessed value on your municipal property taxes. Any change in assessed value explained on the left will affect municipal property taxes as shown on the right:

Examples

Example A: Reassessment increase of 5%

Your property is assessed at $355,900 for 2025. Your assessed value was $338,900 for 2024. This means your property’s assessed value increased by 5%, which is LOWER than the citywide average increase of 9.5%.

Because your property value increase is LOWER than the 9.5% average, your municipal property tax increase is expected to be LOWER than 5.95%, as shown in the example below:

Example B: Reassessment increase of 9.5%

Your property is assessed at $371,100 for 2025. Your assessed value was $338,900 for 2024. This means your property’s assessed value increase by 9.5%, which is EQUAL to the citywide average increase of 9.5%.

Because your property value increase is EQUAL to the 9.5% average, your municipal property tax increase is expected to be EQUAL to 5.95%, as shown in the example below:

Example C: Reassessment increase of 15%

Your property is assessed at $389,800 for 2025. Your assessed value was $338,900 for 2024. This means your property’s assessed value increased by 15%, which is HIGHER than the citywide average increase of 9.5%.

Because your property value increase is HIGHER than the 9.5% average, your municipal property tax increase is expected to be HIGHER than 5.95%, as shown in the example below:

Other considerations

Property taxes make up only a portion of the total property taxes collected by the City. A property’s total tax bill includes amounts for municipal taxes and school taxes. Overall, municipal taxes represent approximately 48% of taxes collected while education taxes represent approximately 52% of taxes collected.

The overall percent change in taxes may be affected by school division rates, and other provincial credits.

Visit how taxes are calculated for more information.