2017 Reassessment: Preliminary Commercial and Multi-Residential Property Assessment Values
The Province of Saskatchewan requires the City of Saskatoon to conduct a reassessment of all property classes every four years to recalculate property values to reflect an updated and more current market value assessment. Market value is what the property might have sold for as of a specified base date.
In 2017, all property classes will have their values reassessed and updated to reflect the market value assessment of the property as of the base date of January 1, 2015. These values will be in place until the next reassessment in 2021. The 2013 Reassessment used a base date of January 1, 2011 to establish market value.
“On a city-wide basis, our preliminary analysis indicates property assessment values have increased, with the increases varying by individual properties and by property classes, “ says Darcy Huisman, City Assessor. “We do note, the total 2017 Reassessment value changes are not as large in Saskatoon as those experienced with the last reassessment in 2013.”
The current 2017 assessed value of all the property in Saskatoon is $52.1 Billion – $30.12 Billion for residential properties and $21.98 Billion for non-residential properties and apartment buildings. Approximately 86,000 residential properties will be assessed, and 9,000 non-residential properties (includes apartment buildings.)
Property taxes are based on a property’s assessed value, and owners of properties with similar values pay similar taxes. Properties for which assessed values increase or decrease more than the average within their tax class, will see tax changes as a result of a reassessment.
The preliminary aggregate 2017 Reassessment value changes are now available for these property classes: Commercial, Multi-Residential, Residential & Condominium, and Agricultural.
Aggregate Taxable 2017 Reassessment Value Changes By Property Class
| Property Class |
Taxable Assessments |
Updated Taxable Assessments |
% Change in Taxable Assessment |
% Assessment Change |
| Commercial | $ 6.927B | $ 9.409B | 36% | 92% |
| Multi-Residential | $ 1.764B | $ 2.656B | 51% | 102% |
| Residential & Condominium | $26.633B | $29.849B | 12% | 83% |
| Agricultural | $ 7.135M | $15.140M | 112% | 46% |
Note: **% assessment change due to 2013 Reassessment provided for comparative purposes.
Historically, City Council has required that the results of a reassessment remain revenue neutral at the property class level with no changes in taxes between property classes. Revenue neutral is a tax calculation, meaning whether property assessments increase or decrease due to changes in values, the City of Saskatoon’s tax revenue does not automatically change – the City still receives the same amount of tax revenue.
Revenue neutral assumes that the City, schools and libraries require the exact amount of tax dollars from each class of property. Any yearly tax change brought forward by the City is communicated through the budgetary process, not by the reassessment process.
The aggregate or total change in assessment by property class may impact the amount of property taxes paid for individual properties. Properties which the assessed value increased or decreased by more than the overall increase in assessment, by property class, will see a change in taxes on a revenue neutral basis.
The following chart provides examples of the impact the reassessment has on Commercial property taxes based on the concept of revenue neutral.
| Commercial Property Class |
Individual Assessment |
Individual Assessment |
Change in Assessment |
Overall |
Individual Tax Change |
| Example 1 | $1.50M | $2.04M | 36% | 36% | 0% |
| Example 2 | $2.00M | $2.50M | 25% | 36% | -11% |
| Example 3 | $2.00M | $2.90M | 45% | 36% | 9% |
Example 1 shows an individual property’s assessment that has increased by 36%, which is the same rate as the overall commercial property class change. The impact on the property taxes on a revenue neutral bases is zero.
Example 2 shows an individual property’s assessment which increased by 25%, compared to that of the overall commercial property class change at 36%. The impact on the property taxes, on a revenue neutral basis is -11%.
Example 3 shows an individual property’s assessment which increased by 45%, compared to that of the overall commercial property class change at 36%. The impact on the property taxes, on a revenue neutral basis is 9%.
Over the last four reassessment or revaluation cycles, the assessment change by property class (including Condominium property type) looks like this:
| Reassessment Year | Residential | Condominium | Multi-unit Residential | Commercial | Agricultural |
| 2005 | 13% | 10% | 14% | 23% | n/r |
| 2009 | 33% | 34% | 21% | 39% | n/r |
| 2013 | 83% | 85% | 102% | 92% | 46% |
| 2017 | 13% | 5% | 51% | 36% | 112% |
Supporting the City’s Strategic Goal of Asset and Financial Sustainability, the City is committed to ensuring the fair, accurate and equitable assessment and taxation of all properties in Saskatoon, and that the reassessment process is open, accountable and transparent.
The 2017 Reassessment Notices will be mailed to residents starting January 9, 2017.
For more information on Assessment, visit saskatoon.ca/assessment or call 306-975-3227.