News Releases

S&P Global Ratings (S&P) has today reaffirmed the City of Saskatoon’s credit rating with the highest rating possible, a ‘AAA’ credit rating with a “Stable” outlook. The City has maintained the ‘AAA’/Stable credit rating for twenty-two years since S&P first began affirming the City’s credit rating in 2002.

“We take great pride in S&P endorsing the City’s 22^nd ‘AAA’/Stable credit rating - it reconfirms Saskatoon City Council and its Administration's ongoing commitment to fiscal responsibility and transparency," says Clae Hack, Chief Financial Officer.

S&P rates the City of Saskatoon’s institutional framework as “…extremely predictable and supportive…” and bases credit context on having “…effective financial management practices consistently support strong operating balances...”

“It’s an honour to receive the ‘AAA’/Stable credit rating endorsement” says Hack. “It validates that Saskatoon manages municipal finances responsibly, plans for the future appropriately and that we can sustainably deliver high-quality civic services and programs residents expect and rely on today and well into the future.”

S&P’s rationale and outlook contributing to the confirmation of the City’s strong credit rating within the January 15, 2024, S&P Global Ratings Direct® Report states:

• The City “will continue to benefit from a strong and diverse economy that supports budgetary performance, keeping debt issuance manageable and maintaining an exceptional level of liquidity.”
   
• “We expect Saskatoon's strong and stable economy, coupled with a growing population and upcoming tax adjustments, will result in healthy operating balances throughout the outlook horizon.”

• “Saskatoon's strong and prudent financial management is a key credit strength, in our view. The City's management team is experienced and qualified to effectively enact fiscal policies and navigate external risks. Good political consensus is demonstrated by a long track record of passing budgets before the start of the fiscal year with minimal variations from projected revenues and expenses.”

• “We view both management accountability and transparency to be strong, as reflected in ongoing disclosures and grounded assumptions, as well as prudent financial policies.”

• “The City consistently produces robust annual budget documents. It also prepares multi-year operating and capital budgets for upcoming years, alongside comprehensive long-term capital and borrowing plans. This underpins fiscal transparency and discipline, in our assessment.”

S&P Global does note the significance of Saskatoon’s upcoming capital plan in 2024-2026 including key projects such as the City’s Bus Rapid Transit, expansion to the City’s Water Treatment Plant and investment in Land Development that could impact the City’s after-capital balances, one of many metrics used to evaluate a municipalities credit score.

“The City’s capital plan for 2024-2026 includes significant projects that will support the needs of a growing city” adds Hack. “We are confident our financial plans to deliver these projects are robust and utilize the City’s reserves, debt and government funding in a fiscally responsible manner.”

Credit ratings are one of several tools that investors and lenders use when making decisions regarding an organization’s future financial strengths and weaknesses. For the City of Saskatoon, the ‘AAA’/Stable rating serves as an indication of the City’s credit risk and ability to meet its financial obligations in full, and on time.

View reports on the City of Saskatoon’s financial performance and credit rating history at saskatoon.ca.

On January 8, the City started accepting requests for smaller black carts, providing residents more choice and flexibility with their household's waste needs. In the first week of application intake, more than three thousand five hundred requests from residents seeking smaller garbage carts have been received.

“We are excited by the amount of interest there has been in the cart size options just one week into a two-month window for swap requests. We do encourage residents to use the online tool through their Utility Account to avoid call wait times,” says Brendan Lemke, Director of Water and Waste Operations.

As part of the Council-approved 2024/2025 Multi-Year Business Plan and Budget, the funding source for black cart garbage services has shifted from property taxes to a utility model. A fixed utility rate of approximately $9.92 per month will be in place from January to June 2024 for all households with roll-out black cart garbage services. Utility rates based on black cart size will not be in place until cart swaps are completed city-wide.

Residents with curbside collection services can assess their waste needs and choose the black cart size suited to their household. The cart sizes include the current large (360L) as well as a medium (240L) and a small (120L) black cart.

The new black cart program will have environmental benefits, while providing choice to residents. Communities that use similar approaches have seen their waste diversion rates improve by 5-17%, as residents increase their use of diversion programs and find new ways to reduce their general waste generation. Residents have shown a high interest in smaller black carts due to the ability to control costs, save space and having less garbage to dispose of.

The first cart swap request window will be open until March 1. The transition to smaller carts will take some time as the City works through exchanging the existing large black carts for smaller carts. Cart swaps will be completed April through June corresponding with collection schedules. More information regarding the cart swap process will be made available in the coming months once the first request window closes and the swap process and schedule are finalized.

If residents miss the deadline or need more time to decide, there will be another intake for cart swap requests this fall. 

To learn more about the Black Cart program or rates, visit saskatoon.ca/blackcart. To request a smaller cart, visit saskatoon.ca/utilityaccount and sign up or login to your Utility Account. Residents can also request a cart swap by calling a Corporate Revenue Customer Service Representative at 306-975-2400.

The City of Saskatoon (City) is reaching out to the community for any information about two collisions that caused damage to separate overpasses during the evening of Wednesday, December 20, 2023.

The first collision happened at around 6:15 p.m. A southbound truck on Idylwyld Drive was hauling a large excavator exceeding height restrictions when the excavator hit and damaged girders underneath the 51st Street overpass.

The second hit-and-run incident happened less than an hour later at around 7:00 p.m. The cloverleaf overpass for Circle Drive above Highway 11 was also hit by a northbound vehicle exceeding height restrictions. This collision exposed reinforcing steel in the concrete and caused the rocky debris to fall, damaging an adjacent vehicle. As noted, the driver responsible for the damage did not remain at the scene.

City engineers have inspected both overpasses, which are safe and remain open to traffic. Damage estimates are not immediately available, however repairs are expected to be in the hundreds of thousands of dollars.

If the responsible driver or drivers are not found, the City will pay for the full cost of repair from the bridge repair reserve fund. Municipalities are unable to submit infrastructure damage insurance claims through SGI, but if the driver is identified, the repair may be covered by their insurance.

The City is asking anyone who may have witnessed these incidents to contact the Saskatoon Police Service at 306-975-8300 and use File Number 24-1119 for the 51st street overpass damage and File Number 23-169644 for the Circle Drive/Highway 11 cloverleaf damage.

The Government of Saskatchewan has announced it will remove the carbon charge for utility customers who rely on electric heat as their primary home heating source. As such, the Saskatchewan government has directed SaskPower, the province’s electrical utility, to stop collecting the carbon charge on electric home heating, effective January 1, 2024.

Saskatoon Light & Power (SL&P) has historically set its electrical rates, programs and rebates to match those of SaskPower. This is to ensure consistency and fairness among Saskatoon residents regardless of their service provider, SL&P or SaskPower.

SL&P will also provide equivalent electric heat relief for its customers who use electric heat (typically baseboard heating) as their primary home heating source. For the City of Saskatoon, SaskPower will reimburse this relief to offset the cost of providing the rebate to the City’s customers. The rebate will be cost neutral for SL&P.

“We estimate there are approximately 2,000 SL&P customers in Saskatoon who use electric heat as their primary home heating source,” says Mike Voth, Director of Corporate Revenue. “The majority of Saskatchewan residents will not qualify for this one-time rebate; about 85%, use natural gas heating as the primary source of heat for their home. Corporate Revenue Customer Service will work with customers who contact us to determine if they are eligible.”

Are you an SL&P customer who uses electric heat as your primary home heating source?

If so, you may be eligible for the Saskatchewan Electric Heat Relief rebate. This one-time rebate, calculated on 60% of the carbon charge applied to your total electrical energy consumption from January 1 to April 30, 2024, would appear as a credit on your utility bill before the end of June 2024.

“Heating is estimated to account for up to 60% of power consumed during the winter months for those customers who use electric heat as their primary heating source for their homes. The SL&P one-time rebate aligns with the relief offered by SaskPower,” adds Voth.

How to apply/find out if you are eligible

To apply for and learn if you are eligible for the Saskatchewan Electric Heat Relief one-time rebate for SL&P electric heat customers, please email Revenue@saskatoon.ca or contact Revenue Customer Service at 306-975-2400.  Check Map of SL&P Service Area

Visit saskatoon.ca/electricrebate

Starting today, January 2, the City of Saskatoon will mail 2024 Assessment Notices to approximately 13,000 residential and commercial property owners in Saskatoon who, since January 1, 2023, have had a change to their property’s assessment, tax status or ownership. (Bylaw No. 8067, Assessment Notices Bylaw, 2002).

The City's 2024 Assessment Roll, a listing of all property assessments in Saskatoon, opens for public inspection on January 2, 2024, and will remain open until February 5, 2024. Inspection of the roll can be in person at the Assessment and Valuation Office located at 325 3^rd Ave N, one block north of City Hall, between the hours of 8 a.m. and 5 p.m., excluding Saturdays, Sundays and statutory holidays, or online using the Property Assessment & Tax Tool at saskatoon.ca/taxtool.

“The 30-Day Assessment Review and Appeal period is an important time for property owners to review their property’s assessment for accuracy, fairness and equity,” says Bryce Trew, City Assessor. “Our Assessment and Valuation team is dedicated to answering any assessment-related questions property owners may have, connect with us, we’re here to help.”

Important dates and information for residential and commercial property owners:

• If you have questions about your property's assessment, tax class, or exemption status, please contact Assessment & Valuation at 306-975-3227.  Most assessment-related questions can be resolved by speaking with an assessor before deciding to file a formal appeal for your property.  Detailed assessment and tax information about your property can also be viewed by entering your property’s address into the Property Assessment & Tax Tool.
   
• If you would like to proceed with filing a formal appeal with the City’s Board of Revision regarding the valuation, classification or content of your property’s assessment, your Notice of Appeal and the accompanying fee must be received during the 30-Day Assessment Review and Appeal period January 2 to February 5, 2024.
   
• A property owner does not need to receive a 2024 Assessment Notice in order to file a formal assessment appeal in 2024. Property tax is not included in the appeal process. An informative guide will accompany the 2024 Assessment Notice mailing.

• Property owners have the option to apply for and pay online for property assessment appeals, visit saskatoon.ca/assessmentappeals
   
• To download an appeal form visit saskatoon.ca/assessmentappeals

Mail or in-person deliver your assessment appeal and your cheque/money order for the fee to:

The Secretary, Board of Revision
c/o City Clerk’s Office
222 3^rd Ave North
Saskatoon, Saskatchewan   S7K 0J5

Assessment appeal hearings are public hearings. All documents filed for an assessment appeal are public records and will be posted on the City of Saskatoon website, subject to certain exceptions under The Cities Act or a confidentiality order made by the Board of Revision.

To learn more about the factors used to determine a residential property's assessed value, view the informative video Understanding Residential Property Assessment.

Visit saskatoon.ca/assessment for more information including how to make a change to school tax support. For more information on the Board of Revision formal assessment appeal process, call 306-975-3240 .