Niverville’s town council gathered for their first meeting of the month on June 4. A delegation from the Manitoba Municipal Relations Assessment Services (MMRAS) was present to provide an overview of their report on the provincial government’s 2020 property reassessment plan.
2020 Property Tax Reassessment
While residents can expect their 2019 property tax rates to reflect the 2016 assessment, next year’s rates will be based on the overall estimated market values as of April 1, 2018.
A number of different factors affect changing property valuations, including supply and demand for real estate, new construction, and improvements to existing properties.
Taxable assessment of residential properties has seen a 1.3 percent increase since 2016. The demand for and construction of multifamily housing units has affected the taxable assessment to a greater degree.
“We’re seeing more of the entry-level housing increasing in value quicker than some of the newer $400,000 [homes],” clarified the MMRAS representative.
He adds, though, that property assessment increases don’t necessarily result in tax increases. Generally speaking, properties with an increased assessment value less than 1.8 percent should see a municipal tax decrease whereas those with an assessment value beyond that percentage should see an increase.
Municipal councils have the flexibility to deal with substantial tax increases in a variety of ways to help mitigate the effect on residential and commercial property owners. The province also offers tax incentives.
The Education Property Tax Credit provides credits of up to $700 on a homeowner’s tax bill. Seniors 65 years of age and older may receive a credit of up to $470 based on their income level. Lower-income pensioner homeowners can receive an additional credit up to a maximum of $175.
Other News
Council passed a recommendation to rezone and sell the L-shaped back lane surrounding BSI Insurance to a private developer to assist him in further commercial development along Main Street.
Also approved was the rezoning of a section of Bronstone Drive from industrial mixed use to commercial corridor. Subdivisions were approved for the Main Street lot on which Niverville Physiotherapy sits, as well as in Fifth Avenue Estates West to provide a larger buffer for CP Rail.
Council shared a waste audit provided by Bristal Hauling for the town’s clean-up days this spring. In total, more than half of the almost 70,000 kilograms of waste collected was diverted from the landfill into recycling bins for distribution to a variety of recycling companies.
Collision Conference
Mayor Myron Dyck provided an overview of the Collision Conference held in Toronto in mid-May which was attended by the mayor, CAO Eric King, and councillor Chris Wiebe. Approximately 2,500 technology start-ups had booths at the conference. Council’s goal was to encourage start-ups to consider locating to Niverville.
“It spurred a lot of conversation,” says Dyck. “Could Niverville be an incubator for start-ups? …We believe we can compete on the global stage.”
Council attendees uncovered three things that were important to business start-ups: space, financial assistance, and mentorship.
“If you set up in the city of Toronto, it [costs] $110 per square foot [to build],” Dyck says. “In Niverville, it’s $20. The average price of housing in Toronto is $780,000 and in Niverville it’s $285,000, give or take… A lot of people were really blown away by what they could get here [in terms of value].”