SASKATOON – A letter from the city will soon arrive in the mail for the roughly 85,000 property owners in Saskatoon with their property assessment notice.
The notice will let owners know the assessed value of their property based on the market value as of Jan. 1, 2011.
That value will then be used to determine how much property tax must be paid with tax notices delivered in May once education rates are determined in the provincial budget.
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“Our goal is to create and conduct property assessment that place fair, accurate, and equitable values on properties,” said City Assessor Les Smith.
Factors like location, traffic patterns, views and the property structure are all used to determine the assessment value with adjustments made for size, age, style and garages.
Around two-thirds of home and condo owners should expect a tax increase or decrease of less than 10 per cent with changes greater than 10 per cent expected for the other third.
Those changes will be phased-in over four years.
Property owners will have 60 days to appeal assessments, which must be filed by March 11.
Under provincial law, the city must assess property values every four years.
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