The City of Winnipeg is conducting a property reassessment to evaluate properties based on a market valuation date of April 1, 2023. Ensuring your property is assessed fairly can help you plan for any changes in property taxes and avoid potentially overpaying.
The window between the time the 2025 assessment notices are released on June 5, 2024, and the appeal deadline of July 2, 2024, is short—we encourage all businesses to take action early, ideally before their property assessment notice arrives.
What is a property assessment?
Every two years, the city reassesses all properties within its jurisdiction. This process is known as a biennial assessment cycle, aimed at ensuring property assessments align closely with market sale transactions, lease data, and construction costs as of a valuation date. Property occupants receive their new property assessments ahead of the applicable year, enabling them to contest them if necessary.
A property assessment is the City of Winnipeg’s estimate of your property’s market value as of a designated date, utilized for property taxation. The Province of Manitoba’s Municipal Assessment Act mandates the city to assess all properties in Winnipeg to ensure the fair and equitable distribution of the required property tax revenue.
Your total annual property tax liability is based on your property’s assessed value multiplied by the tax rate in your jurisdiction.
Is your property tax liability accurate?
If you are an industrial, commercial, or institutional property occupant in the city, it's important to ensure that your property is assessed accurately. Overvalued assessments are common and can result in higher property taxes, which can lead to an inflated bottom line, impacting cash flow and profitability.
How BDO can help
Our professional property tax consultants can review your property assessment to ensure it is fair and accurate. If there are any discrepancies, we can work with the city to have your assessment adjusted to lower your property tax burden.
The information in this publication is current as of April 10, 2024.
This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact BDO Canada LLP to discuss these matters in the context of your particular circumstances. BDO Canada LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.