In Manitoba, property taxes are a hot topic. Whether you live in Winnipeg or a smaller rural community like Steinbach or Brandon, there’s always a debate about how much each region should pay in property taxes. But beyond opinions, understanding what your property taxes fund is essential, especially for prospective homebuyers planning their long-term budgets.
Homeownership is more than just a mortgage—it includes annual property tax payments that fund essential services and community infrastructure. As you budget for your dream home, don’t overlook this recurring expense. Here’s what you need to know about property taxes in Manitoba.
Property Taxes: What to Expect
1. Check the Rate in Your Area
In Manitoba, property tax rates vary by municipality. Visit your local municipal website to find current tax rates and use online calculators to estimate your annual bill. Manitoba properties are assessed by the provincial body, Manitoba Assessment Services, which determines your home’s assessed value—a critical factor in calculating your tax bill.
2. How to Pay Your Property Taxes
Paying property taxes has become more convenient than ever in Manitoba. Most municipalities offer several payment options:
- Online Banking: Set up payments through your bank’s online system.
- Telephone Banking: Make payments directly from your phone.
- Automatic Teller (ATM): Visit your local ATM for easy transactions.
- In-Person: Pay at your municipal office.
- By Cheque: Mail in your payment if that’s your preference.
If your home equity is less than 20%, your mortgage lender may collect property taxes on your behalf, making the process even simpler.
3. What Do Property Taxes Cover in Manitoba?
Your property taxes support essential community services. In Manitoba, this typically includes:
- Public Education: Funding local schools and educational programs.
- Infrastructure Maintenance: Roads, bridges, and public spaces.
- Waste Management: Garbage collection and recycling programs.
- Snow Removal: A critical service in Manitoba’s snowy winters.
- Emergency Services: Police, fire departments, and ambulance services.
4. Consequences of Not Paying
Property taxes are mandatory. Failure to pay can result in interest charges, collection efforts, and even a lien against your property. If left unpaid for several years, municipalities can issue a Tax Arrears Certificate, potentially leading to the sale of your property.
5. Budgeting for Property Taxes
When house hunting, consider the full cost of ownership—not just your mortgage, but also property taxes, utilities, and insurance. Manitoba real estate listings often disclose annual property tax amounts, helping you estimate future costs. Including these expenses in your budget will ensure you’re financially prepared.
Ready for Potential Tax Increases?
In the wake of economic challenges, including pandemic-related deficits, some Manitoba municipalities have reviewed their property tax rates. While the province has avoided major hikes in recent years, financial pressures could lead to adjustments. Staying informed about local council meetings and budget announcements can help you anticipate changes.
Have More Questions?
Connect with one of our top performing agents at RE/MAX Performance, today. We’re here to help you navigate homeownership in Manitoba and ensure you’re ready for all the associated costs, including property taxes.