The Manitoba government is introducing measures in its upcoming budget to alleviate the burden of rising property taxes on homeowners. Starting in 2027, the Homeowners Affordability Tax Credit will increase to $1,700 annually from $1,600, benefiting many homeowners. However, the credit will be phased out for properties valued at over $1 million, with no credit for homes valued at $1.5 million or more.
This adjustment is part of the government's effort to address sharp increases in school taxes, which have risen by more than 20% in some Winnipeg school divisions over four years. The budget is expected to save homeowners collectively $7.2 million annually.
The government has also promised to balance the budget by 2027-28, despite facing a projected deficit of $1.6 billion for the current fiscal year, largely due to drought and wildfires. Additional budget items include increased funding for police, nurse training, cardiac care, and early childhood education.
The budget reflects the NDP government's focus on affordability, following a study launched last month to curb rising grocery prices.