6. Portioned assessment value
is the value of the property on which the property tax is
calculated.
Portioned assessment value = Market Value x Portion Percentage
*** Portioned assessment must be rounded to the nearest $10.00
7. 1. Sarah Mahler owns a home in Flin Flon. The market
value of her home and land is $83,900. The portion
percentage for the property is 45%.
Find the portioned assessment of the property.
Portioned assessment: $83,900.00 x 45% = $37,755.00
(rounded up to $37,760.00)
8. Joe Kerr owns a single family residential house in Thompson,
Manitoba. The market value assessment of the land is
$6900.00 and that of the building is $67,900.00.
What is the total market assessed value of his house?
$6900.00 + $67,900.00 = $74,800.00
What will his portioned assessment be if the portioned
percentage for single family homes is 45%?
Portioned assessment of land: $6,900.00 x 45% = $3,105.00
(rounded up to $3,110.00)
Portioned assessment of house: $67,900.00 x 45% = $30,555.00
(rounded up to $30,560.00)
Total Portioned assessment: $3,110.00 + $30,560.00 = $33,670.00
9. Property tax rate
Can be determined as:
• cents per dollar: the amount of tax to be paid for every $1.00 of
portioned assessed value.
Total Revenue Required
Property Tax Rate =
Total Portioned Assessment
• percentage
Total Revenue Required
Property Tax Rate (%) = x 100
Total Portioned Assessment
• in mills: a tax of $1 for every $1000 of portioned assessed value
Total Revenue Required
x 1000
Property Tax Rate (mills) =
Total Portioned Assessment
10. A municipality requires revenue of $4,500,000 to be
raised from property taxes. The total portioned
assessment of all taxable properties is $200,000,000.
Find the tax rate expressed:
• as a percentage rate
2.25%
• as cents per dollar
2.25 c per $1.00
• in mills.
22.5 mills
