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Properties in Manitoba are assessed every two years to ensure assessment values keep pace with changing real estate market values. 3. Why do assessments change? There are several reasons why your property's assessment can change:
Regular reassessments ensure that property assessments keep pace with real estate market conditions, and taxes are distributed fairly to property owners. Property in Manitoba is grouped into 10 property classes on the basis of use, and a portion of the assessment is taxed.
This change is aligned with best practices across Canada with minimal impacts on how Manitobans receive assessed values of their properties. The next assessment period would begin in 2023, and the regular two-year cycle would continue from that point forward.
Given the impact of the COVID-19 pandemic, the province is changing the current reassessment cycle—moving the reference date of the current reassessment to April 1, 2021. This will allow real estate market trends to be more accurately reflected in property assessments for taxation purposes.
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May 18, 2024 · Recently, many property owners in Manitoba received their new Property Assessment Notices for 2025. According to the Municipal Assessment Act, properties must be reassessed every two years, with the last assessment occurring in 2023.
A reassessment is a periodic revaluation of a property assessment for taxation purposes, and in the Province of Manitoba, a reassessment occurs once every two years. 2023 will be the first year of Manitoba’s next biannual assessment cycle, which will update market value assessments from a valuation date of April 1 st, 2018, to a valuation ...
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Properties in Manitoba are assessed every two years to ensure assessment values keep pace with changing real estate market values. 3. Why do assessments change? There are several reasons why your property's assessment can change:
