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Amendments to the Municipal Assessment Act have been introduced that would pave the way for property assessments to take place every two years to better reflect current real estate market values, Intergovernmental Affairs Minister Steve Ashton announced today.

 

“Reassessments every two years instead of every four years mean property assessments are more up-to-date and more understandable to property owners,” said Ashton.  “Property owners will be better able to predict their assessments and as a result better judge their accuracy.”

 

When assessments are more up-to-date, the property tax system is more equitable and results in all property owners paying their fair share of taxes.  The move, which has been supported by the City of Winnipeg, brings Manitoba in line with other provinces.

 

Property assessments are used for municipal and school taxation.  The next reassessment would take place in 2010, followed by 2012.

 

Proposed amendments to the Municipal Assessment Act also include further changes that would improve the assessment system.  Property owners would benefit from amendments that streamline the property assessment appeal process, make the appeal process more accessible to property owners and enable assessment disputes to be resolved more quickly, added the minister.

 

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