Written by: Evan Prendergast
The City of Winnipeg’s 2023 Business Assessment notices are expected to be delivered to industrial, commercial, and institutional property owners on November 4, 2022, with an expected appeal deadline of November 29, 2022.
2023 will be the first year of the City of Winnipeg’s next biannual assessment cycle, and in addition to realty taxes imposed, the City of Winnipeg also levies a business tax. This tax will be based on a market valuation date of April 1, 2021, and is for the 2023 & 2024 taxation years.
Business Assessments are calculated by determining an annual rental value (Fair Market Rent x Square Feet) for a property, plus individual costs per square foot for services required for the occupied premise (i.e., heat, hydro, water, A/C).
Over the past three years, a lot has changed in the City of Winnipeg, and if you are a property owner or tenant, you should consider having the 2023 Business Assessment reviewed by a tax professional.
For more information about the City of Winnipeg’s 2023 Business Assessment and appeal process, please contact our Canada property tax professionals to discuss the review process.