Winnipeg City Councillor Ross Eadie is proposing a $100 tax credit for people who live in homes valued at $250,000 or less.
The motion, brought to city council on Thursday, was seconded by Coun. Jason Schreyer.
“This is helping people who are having great difficulty making ends meet,” Coun. Eadie told reporters on Thursday.
The motion cites the demand for lower-cost homes driving up the market values of the homes faster than more expensive homes since the early 2000s. The motion also says the reassessment process has resulted in owners of lower-valued homes to pay higher property tax increases than the owners of more expensive homes.
There are 67,204 properties in Winnipeg that are valued under $250,000. Coun. Eadie said the tax break would only apply to about half of those properties, as it wouldn’t include rental housing or vacant properties. He estimates the cost of the proposal to be around $3 million.
Eadie will be presenting the motion to the executive policy committee next week. He hopes to have the tax credit in place by 2020, the next reassessment year.
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