SASKATOON – Property assessment notices are being mailed out by the City of Saskatoon. How much property and business owners pay in property taxes this year depends on the assessed value of their premise.
Saskatoon uses a valuation approach to assess properties based on such factors as location, traffic patterns and views to determine values.
The average single residential home in Saskatoon now has an assessment value of $325,000. Property taxes went up 5.34 per cent in 2015 with the new city budget, meaning those owners will pay an extra $83.31 this year.
READ MORE: Councillors approve 5.34% 2015 property tax hike
“Increases or decreases to the amount of property tax a resident owes due to the 2013 revaluation are phased-in over the four year assessment cycle – 2015 marks the third year of the phase-in process,” said City Assessor Les Smith.
Since 2013, property owners have been paying property taxes based on the value of their property as of January 2011. The next province-wide reassessment is in 2017.
If people disagree with their assessment, they have until Feb. 6 to appeal.
Property taxes are collected on behalf of the city, school boards and the Saskatoon Public Library. The total value of the 2015 property assessment roll is around $40 billion.
When the province finalizes the budget, 2015 property tax notices will be delivered sometime in May.
Anyone with information about a residential property or business that needs to updated or if customers have questions, they can call 306-975-3227 or visit 4-325 3rd Avenue North.
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