Effective January 1, 2024: new late payment penalties on overdue property taxes
For 2023, property owners, if you have your current year (2023) property taxes still owing after June 30, 2023, your property is currently assessed with a 1.25% late payment penalty compounded monthly up until December 31, 2023.
New! As approved via the 2024/2025 Multi-Year Business Plan & Budget, new late payment penalties will compound monthly starting January 1, 2024. The late payment penalties apply to:
- Current Property Tax: This refers to property tax levied in the current year that remains outstanding beyond the June 30 payment deadline. The late payment penalty for current property tax balances will increase from 1.25% to 1.75% per month effective January 1, 2024.
- Property Tax in Arrears: This refers to property tax balances which remain
soutstanding beyond December 31 of the year the property tax was levied in. The late payment penalty for property tax arrears will increase from 1.5% to 2.25% per month effective January 1, 2024.
Late payment penalties assessed to a property are added to the tax account and are compounded monthly.
Various tax payment options are available to property owners.
Property taxes are based on the calendar year, January to December. The City issues property tax notices in the spring each year after City Council passes the mill rate bylaw. Property taxes are due on June 30 each year, unless taxes are paid over 12-monthly instalments using the Tax Instalment Payment Plan Service (TIPPS).
For additional information, please visit saskatoon.ca/propertytax or call a Corporate Revenue Customer Service Representative at 306-975-2400.