How will my property reassessment affect my property taxes?

The assessment office has recently completed their 2025 reassessment for the entire province of Manitoba. 

Roger Storoschuk presented at Steinbach City Council Tuesday evening on behalf of Manitoba Municipal Assessment Services 

The presentation provides details on how taxable assessments have changed in the City of Steinbach and across the province, and how reassessment 2025 will impact municipal and school taxes. 

For 2025, the assessed values of all properties will be updated to a reference date of April 1st, 2023 market values.  

Before this, properties assessments were last updated in 2023 using a reference date of April 1st, 2021 market values. 

Storoschuk says the City of Steinbach’s taxable assessment has increased by 158 million or 13 per cent to 1.4 billion. That's up from 1.242 billion in 2024. 

The province's taxable assessment has increased by 13.2 billion or 13 per cent, to 111.2 billion, up from 98 billion last reassessment. 

He shares the changes in Steinbach’s taxable assessment from 2024-2025 by property class. 

“Single family residential saw an increase of 15.7 per cent, apartments saw an increase of 5.7 per cent, condominiums, so apartment style or residential style condominiums, saw an increase of 11.2 per cent.” 

This makes for a total average increase for residential property of 14.2 per cent. 

Storoschuk reminds that assessment increases or decreases do not necessarily mean tax increases and decreases. 

“One common phone call we get is ‘my assessment went up 25 per cent, my taxes are going to go up 25 per cent and I can't afford that.’ That that's not necessarily how it works.” 

He says only properties seeing above average increases will likely have an increase in taxes. 

“Properties within assessment increases less than 12.7 per cent should see a municipal tax decrease, properties with an assessment increase greater than 12.7 per cent should see a municipal tax increase.” 

In Steinbach, the average single family residential will see an increase of 2.7 per cent.

The average apartment will see an increase of 6.3 per cent.

The average condominium will see an increase of 1.3 per cent.

However, your home may not be the average home.  

To see your personal reassessment, sign up to view your assessment online by clicking here. 

Storoschuk notes that for 2024, owners of residential and farm properties will receive a 50 per cent rebate of their education property taxes applied directly to the property tax statement. 

“So in years past, you may remember you've gotten your tax bill, a couple weeks later you get a check from the government, that check has now officially been eliminated. The reduction is automatically placed on your tax bill.” 

Assessment notices for the City of Steinbach have hit the mail stream as of Tuesday.

They expect by the end of the day today, property owners in the City of Steinbach will have their assessment notice for 2025.

If you have any questions or want to dispute your property assessment, a toll-free customer service line is available for ratepayers to contact Steinbach’s assessment office and speak to an assessor. You can call 204 326 9896 or 1 888 216 9342 or you can email assessmentsteinbach@gov.mb.ca.