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- Manitoba uses a portioned assessment system which was introduced in 1990 to distribute the taxes since market values increase at different rates for each class of property. Thus, each class of property will have a different sized portion of their assessed value that is taxable.
For calculating mill rates and taxes, municipalities use "portioned" assessment. Portioning was introduced with the amendments to assessment legislation in 1990. When Manitoba began market value assessment, it became apparent that types of property had increased in value at varying rates over the years.
- Municipal and Northern Relations
Property in Manitoba is grouped into 10 property classes on...
- Municipal and Northern Relations
Property in Manitoba is grouped into 10 property classes on the basis of use, and a portion of the assessment is taxed. Property classes and the portion of assessment that is taxed is established by regulation under The Municipal Assessment Act .
The municipal rate, expressed as thousandths of the total assessment, is called the “mill rate” after the Latin word for thousand (millesimum). For the purpose of calculating mill rates and taxes, municipalities use "portioned" assessment.
An assessment is the value of property used to calculate your property taxes. After estimating the market value of property, the value is multiplied by a factor (determined by property classification). The result is the portioned assessment.
Property in Manitoba is grouped into 10 property classes on the basis of use, and a portion of the assessment is taxed. Property classes and the portion of assessment that is taxed is established by regulation under The Municipal Assessment Act .
Each class is assigned a percentage; the percentages of assessed value that apply to each class of property determine its portioned value. This portioned value is what is used for taxation purposes. Each classification is taxed at a different percentage of its market value assessment.
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Oct 23, 1998 · Defines the class of Other Property, which includes any property not covered by the previous classifications. Lists the percentages of assessed values for each class of property from the year 1992 to 2002 and subsequent years, determining how property values are portioned for tax purposes.
