The City of Winnipeg Assessment Department in 1990 conducted a general reassessment of all real property. This study analyzes the relation between assessed and market valuation of single-detached properties to determine the equity of the assessment process. The 1990 assessment and the 1985 market price valuations are compared for over 7,000 observations at the neighbourhood characterization area level employing a wide variety of statistical techniques. One of the study conclusions is that the property assessments are regressive.