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.
2023 reassessment
The City completed a reassessment for 2023 and properties have been revalued based on their market value as of April 1, 2021.
If your assessment has increased for 2023, it does not mean there will be an equivalent increase in your 2023 municipal property taxes. Any change to your 2023 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 3.5% for 2023.
- Frontage levies: The City has increased frontage levies for 2023, increasing them this year by $1.50 per foot to $6.95 per foot of property frontage. This increase will be applied to property taxes for 2023.
- 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 2023 general assessment resulted in an average increase of approximately 8% in the assessed value of properties in Winnipeg. This means your municipal property taxes for 2023 are only affected by the new assessed value of your property if it has changed by more or less than 8%.
Considering these items, properties may experience a municipal property tax increase higher or lower than the announced property tax rate change (increase of 3.5%) depending on how their new assessed value compares with the City’s average change in assessment value (8% increase). Any change to the frontage levy will also have an impact on the amount of annual municipal property taxes charged on a property.
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
The following examples do not include the tax impacts of changes to frontage levies and school taxes.
Example A: Reassessment increase of 5%
Your property is assessed at $329,000 for 2023. Your assessed value was $313,500 for 2022. This means your property’s assessed value increased by 5%, which is LOWER than the citywide average increase of 8%.
Because your property value increase is LOWER than the 8% average, your municipal property tax increase is expected to be LOWER than 3.5%, as shown in the example below:
2022
Assessed value: $313,500
Property taxes: $1,900
2023
Assessed value: $329,000
Property taxes: $1,910
Property tax impact: $10 higher
Property tax percent change: +0.5%
Example B: Reassessment increase of 8%
Your property is assessed at $338,600 for 2023. Your assessed value was $313,500 for 2022. This means your property’s assessed value increase by 8%, which is EQUAL to the citywide average increase of 8%.
Because your property value increase is EQUAL to the 8% average, your municipal property tax increase is expected to be EQUAL to 3.5%, as shown in the example below:
2022
Assessed value: $313,500
Property taxes: $1,900
2023
Assessed value: $338,900
Property taxes: $1,967
Property tax impact: $67 higher
Property tax percent change: +3.5%
Example C: Reassessment increase of 10%
Your property is assessed at $345,100 for 2023. Your assessed value was $313,500 for 2022. This means your property’s assessed value increased by 10%, which is HIGHER than the citywide average increase of 8%.
Because your property value increase is HIGHER than the 8% average, your municipal property tax increase is expected to be HIGHER than 3.5%, as shown in the example below:
2022
Assessed value: $313,500
Property taxes: $1,900
2023
Assessed value: $345,100
Property taxes: $2,003
Property tax impact: $103 higher
Property tax percent change: +5.4%
2023 frontage levy changes
As part of the City’s 2023 budget update, the frontage levy charge on properties has increased to $6.95 per foot of property frontage. This is an increase of $1.50 over the frontage levy charged in 2022, which was previously $5.45 per foot.
The impact of frontage levies on your municipal property taxes, based on different lot sizes, are shown in the examples below:
| Frontage measure | 2022 frontage levy | 2023 frontage levy |
|---|---|---|
| 33 feet | $179.85 | $229.35 |
| 50 feet | $272.50 | $347.50 |
| 75 feet | $408.75 | $521.25 |
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.
Visit how taxes are calculated for more information.