THOUSANDS of Winnipeg homeowners are set to get a preview of what their property is worth.
Last week, the City of Winnipeg mailed out more than 110,000 letters to residential property owners in the city's northwest to give them a preliminary estimate of the market value of their home for the 2014 general assessment.
Letters have been mailed to homeowners in Charleswood, St. James, Tuxedo, River Heights, the inner city and Old and West Kildonan. Another 110,00 preliminary estimate notices will be sent out to homeowners in the southeastern parts of the city, including Fort Garry, St. Boniface, St. Vital, Transcona, and North and East Kildonan, later this winter.
The city assesses the market value of residential and commercial properties every two years. This reassessment will be based on market values as of April 1, 2012, and it will come into effect for the 2014 tax year.
The average Winnipeg home's value increased 13 per cent in the 2012 assessment.
Deputy city assessor Mel Chambers said the final general assessment notices for 2014 will not be sent out until next June and the city will meet with homeowners who would like to discuss issues with proposed value beforehand.
Homeowners in Winnipeg's northwest can make an appointment to meet with departmental staff or attend the Burton Cummings Community Centre the week of Nov. 19 to discuss their property values.
Homeowners in the city's southwest will have an opportunity to meet with departmental staff to discuss their assessments the week of March 4, 2013, at the Norwood Community Centre.
Chambers said there are plenty of spots available for anyone who wants to meet and discuss their property's estimated value.
He said the average property will increase in value between nine and 18 per cent in the 2014 assessment.
"That's a credit to the robust housing market in the city of Winnipeg," Chambers said. "Property values are still strong in the city of Winnipeg and we're seeing some modest growth in property values."
The city has not completed preliminary assessments for commercial properties yet.