Changes In Legislation To Affect Frequency Of Re-assessment In Manitoba

All properties in the Province of Manitoba have, to now, been reassessed every four years, however, the Manitoba Government is about to change that. New legislation will amend the four year assessment cycle to a two year assessment cycle. These changes will be reflected on the 2010 property tax rolls. The 2010 assessments will be based on 2008 market values.    

This change, which will provide more frequent assessments, will give property owners a more accurate reflection of their property’s value because it will be much more current. This is particularly important in vibrant markets, as in the case of the City of Winnipeg.

More current assessments will assist property owners in deciding whether to appeal the assessment on their property as the more current an assessment is, the easier it is to determine whether it reflects the true market value of his or her property.

 Look for the new assessments some time in the early part of 2009. If the assessment appears higher than the market value, then consideration should be given to submitting an appeal.

 

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