REGINA – The Saskatchewan government will hold the line on education property tax in next week’s budget.
Premier Brad Wall said that comes after the government looked at the impact of a huge increase in property values on property taxes that saw the overall value of property in Saskatchewan rise 67 per cent over the past four years from $58 billion in 2009 to $97 billion this year.
“Despite some significant pressures on our provincial budget, we will hold the line on education property tax in 2013,” said Wall.
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Wall said education tax rates will be reduced significantly in the budget next week to keep the overall impact on property taxes revenue-neutral in terms of re-assessment.
That means some property owners will see an increase if their assessment went up more than average while others will see their taxes go down.
Education taxes currently fund about 35 per cent of the K-12 school costs with the remainder funded by the government.
Wall says with a growing population base and increased school enrollment, there may have to be an adjustment to the education property tax in the future.
“We will want to sit down with SUMA, SARM and SSRA and hear from Saskatchewan people in advance of next year’s budget on how we go forward in terms of the need for financial support for increasing enrollment and education infrastructure demands,” said Wall.
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