Steinbach Property Tax Calculator 2021
The City of Steinbach is located approximately 1 hour southeast of Winnipeg in the Rural Municipality of Hanover and is home to over 15K residents. The population of Steinbach increased significantly by 17% from 2011 to 2016. Steinbach real estate prices have increased significantly from October 2019 to October 2020, with prices of single-family detached houses increasing by 8% to an average of $302K and the prices of condominiums increasing by 4% to an average of $205K. While total home listings in Steinbach have remained relatively steady, with only a 3% increase, sales volume in the Steinbach real estate market have increased dramatically by 32% from October 2019 to October 2020. Market analysts note that the increase in home sales in Steinbach is due to the COVID-19 pandemic, which has caused more people to rethink their lives and many buyers now value home ownership more compared to their previous living arrangements.
Steinbach property tax is based on the assessed value of your home. Every two years, Steinbach assess properties based on guidelines stated in The Municipal Assessment Act which takes into account factors such as location, market conditions, and size to estimate how much the property would reasonably sell for if listed on the open marketplace. There are ten classes of properties determined by The Classification Property and Portioned Values Regulation, and the class your property belongs to determines what percentage of its market value is taxable. The assessment is usually mailed out from May to July.
You can calculate your property tax using either your home's assessed value or your home's most recent market price. Just enter the price and type of your property, and we will give you an instant property tax estimate.
2020 Tax rates for Cities Near Steinbach
| City | Final Tax Rate |
|---|---|
| Winnipeg | 2.752300 % |
| Brandon | 3.034900 % |
Steinbach Property Taxes
The property tax in Manitoba is made out of four parts:
- A municipal rate that is different for each municipality
- A provincial Education Rate that is the same for all municipalities
- A School Division Rate that is different for each municipality
- Additional taxes for local services as needed
Every year, the education tax is set by the provincial Minister of Education while the rest is set by the City Council; the rates are expressed in mills based on how much revenue they predict to need to fund services, where 1 mill = 0.001.
Manitoba uses a portioned assessment system which was introduced in 1990 to distribute the taxes since market values increase at different rates for each class of property. Thus, each class of property will have a different sized portion of their assessed value that is taxable.
| Residential Property Tax Rate for Steinbach from 2018 to 2020 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2020 | 1.370000% | 1.464200% | 2.834200% |
| 2019 | 1.409000% | 1.516600% | 2.925600% |
| 2018 | 1.409000% | 1.514300% | 2.923300% |
Steinbach Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Steinbach's property tax department through the following methods:
| Phone number | General (within municipality limits): 311 General (outside municipality limits): 204-326-9877 Property Tax Department: 204-346-6531 |
| taxes@steinbach.ca |
Steinbach Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Steinbach's property tax department through the following methods:
| Phone number |
General (within municipality limits): 311 General (outside municipality limits): 204-326-9877 Property Tax Department: 204-346-6531 |
| taxes@steinbach.ca |
| Steinbach at a Glance | |
|---|---|
| Province | Manitoba |
| Settled Year | 1874 |
| Established Year | 1946 |
| Incorporated Year | 1997 |
| Population | 15,829 |
| City Area | 25.59 km 2 (9.88 sq mi) |
| Official Website | Steinbach Official Website |
Property Taxes in Manitoba for a $500K Manitoba Assessed Value Home*
Assessed Value of a Property
Properties in Manitoba are assessed every two years by the district assessment office. Most properties are assessed using a market value-based approach. There are three ways to determine a property’s market value:
- Sales Comparison Approach
- Cost Approach
- Income Approach
Residential properties are valued under this approach. This compares the sales of similar properties in the assessment year to determine a valuation for the property. The assessed value may not equal the actual market value or sale value of a property.
Unique and rarely traded properties are valued under this approach. This uses the cost of the property if someone were to rebuild it to determine a valuation for the property minus depreciation due to age or other factors. This includes the price of the land and the price of all improvements (e.g. buildings) on top of it. While this takes into account the market value of the land, it does not consider the market value of the property as a whole.
For properties that are dedicated to generating income like rental properties or offices, an income-based approach is used. This approach uses the income generated by the property as well as the sales price to determine its assessed value.