Assessment

 Guide to Your 2021 Reassessment Notice
 2021 Reassessment Information Insert
 2021 Reassessment Information Backgrounder
 Media PowerPoint: 2021 Assessment Roll Highlights January 27, 2021 

• The 2021 reassessment of all property types in Saskatoon was calculated using the legislated base date of January 1, 2019. Sales of properties similar to yours prior to the base date of January 1, 2019, were examined using what’s called a mass appraisal approach. This approach ensures comparable properties are assessed similarly.
• Any economic impact COVID-19 may or may not have had on a property’s assessed value was not reflected in 2021 property reassessment figures.

Wondering how your property's most current assessed value was calculated in 2021?

• 2021 was a provincially legislated reassessment year for all property types in Saskatchewan per the four-year reassessment cycle. The 2021 reassessment calculation used the legislated base date of January 1, 2019. The sales of properties similar to yours on January 1, 2019, were examined using what’s called a mass appraisal approach. This approach ensures comparable properties are assessed similarly.
• With the base date of January 1, 2019, it’s important to know that at that time residential property sales in Saskatoon had decreased - that is property sales were higher for the last reassessment cycle in 2017 which then used a base date of January 1, 2015, to look at comparable sales.
• The majority of your residential property’s assessed value comes from 5 factors; location, lot size, living area, age of property and quality of construction. An Assessor analyzes comparable property sales to determine what characteristics add or subtract value to your home. Homeowners with properties of similar fit and finish will pay similar property tax.

How is reassessment connected to what I pay in property tax?
Assessment of all properties is a way of equitably distributing the tax load. Your property’s assessed value forms the starting point for the calculation of your property tax; owners of properties with similar values pay similar property tax.  Your property’s assessed value is used to distribute the funds the City, Library and School Boards require to operate. Your property's 2021 assessed value is used as the starting point to calculate your property tax for the years 2021 through to 2024.

If my property's assessed value went down as a result of the 2021 provincially legislated reassessment, will my property tax go down too? 
This has to do with how your property compares to others in the same property class as yours. For the 2021 Reassessment, the Residential property class decreased by 7% and the Commercial property class increased by 8%. If your property's new assessed value increased or decreased as compared to the average within its property class, your property will see a tax change as a result of the 2021 Reassessment.

For example, if your residential assessment dropped more than 7%, you would see a decrease in your taxes. If your assessment didn’t drop, or was minus 2% or anything above that 7%, you would see an increase in property tax. Please contact us with any questions you may have.

What does the term revenue neutral mean?

• City Council has required the results of a reassessment to be revenue neutral, meaning no additional revenue is generated for the municipality due to changes in property assessments. Whether property assessments increase or decrease due to changes in assessed values – the City still receives the same amount of property tax revenue.  
• Revenue neutral is a tax calculation which means that changes in assessment are offset by changes in the tax rates to ensure the same amount of tax dollars are collected by the City.
• Budgetary adjustments and tax policy decisions are applied to the new revenue neutral tax rates. The tax increases brought forward by the City and the Province are communicated through the budgetary process – not the reassessment process.
• Try out the Revenue Neutral Property Tax Estimator 

Where do assessment appraisers source the information to calculate the assessed value of my property?

Assessment appraisers review information obtained from recorded property characteristics, building permits, site visits, land title information, maps, photos and sales data. Using this information, your property's assessed value is calculated using what is called a mass appraisal method. Check the information the City has on file for your property using the Property Assessment & Tax Tool.

Does reassessment and the term revaluation mean the same thing?

Yes. Both terms refer to the process of updating assessed values of all property classes or types to a more current assessed value, as of legislated base date.  The 2021 reassessment of your property reflects its assessed value as of January 1, 2019; this assessed value will be in place from 2021 to 2024, until the next provincially legislated reassessment in 2025. 

Is the assessed value on my Assessment Notice, the value I would sell my property for today? What about COVID-19's effect?
No it's not. The assessed value of your property is calculated for taxation purposes only. It's an estimate based on sold properties in your market area as of the legislated base date of January 1, 2019. Sales that occurred after this valuation date cannot be considered in the 2021 reassessment as per legislation. The economic impact COVID-19 may or may not have had on a property's assessed value were not reflected in 2021 property reassessment figures. Provincial legislation states that properties in Saskatchewan are reassessed every four years. Some cities have two-year or even one-year assessment cycles.

I'm wondering about the difference between the assessed value calculated for my property and the price I paid for it?
In most cases, your property’s assessed value will not match your property’s selling price for several reasons:

• The valuation base date may differ from the actual sale date. 
• Your property’s selling price is an amount paid between a buyer and seller in an individual transaction.  This amount may differ from what another individual would be willing to pay for a variety of reasons such as personal preferences, negotiating skills, and particular wants and desires of both the seller and buyer. 
• The assessed value calculated for your property takes into consideration all relevant sales within your neighborhood as of the base date; for the 2021 reassessment, that will be at January 1, 2019.

Considering the 2021 Reassessment, what if the real estate market has changed since the base valuation date of January 1, 2019?
Changes in the real estate market after January 1, 2019 will be reflected in the next province-wide reassessment in 2025.  As per legislation, market data or information that surfaced after the valuation base date of January 1, 2019 including any economic impact due to COVID-19 may or may not have on a property's assessed value, could not be considered in the 2021 reassessment of your property. 

Where can I find more information on my property’s assessment?
Find more information by using the Property Assessment & Tax Tool found on the Property Tax page.  This easy-to-use tax tool allows you to review market area and neighbourhood assessments similar to yours. Or contact the Assessment & Valuation Office at 306-975-3227, we're here to help.

How does the City assess residential properties?
The City uses a sales comparison approach to develop assessment models. The assessment approach requires that all relevant sales within a neighborhood are considered as of a legislated base date. The models are applied to all properties within a neighborhood so that similar properties will have similar values, and thus pay similar property tax.

What factors may influence the assessed value of my residential property?
For residential assessment, some of the factors used to determine the assessed value include location or neighbourhood of the property, lot size, living area, quality of construction and age. Improvements made to your property, such as building an addition, adding new shingles, a garage or basement rooms, etc., could change your property's assessed value.

The following factors do not increase or decrease your residential property’s assessed value: plumbing details, decks or landscaping, a back lane or broad-based influences such as aircraft noise.  Also, check out the assessment video series available on this page.

I feel my property is unique. Can the City use a different method to appraise it?
No. The City must use mass appraisal which is the process of preparing assessments for a group of properties as of the base date using standard appraisal methods, common data, and statistical testing. It's important to note that legislation prohibits the calculation of an assessed value for one individual property.

How does the City assess commercial properties?
The most widely used method is to value commercial properties using the income approach.  This approach capitalizes the net rental income of a property to arrive at a value.  As legislation dictates, mass appraisal techniques are used to ensure fairness and equity. The Property Assessment & Tax Tool now includes Commercial Model information for Commercial property owners.

Would the City have collected more taxes as a result of the 2021 reassessment?
City Council has required that the results of a reassessment or revaluation remain revenue neutral at the property class level with no changes in taxes between property classes.  Revenue neutral is a tax calculation, which means whether property assessments increase or decrease due to changes in values, the City’s tax revenue does not automatically change – therefore, the City still receives the same amount of tax revenue.  

Revenue neutral assumes that the City, school boards 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.  

 

If I have questions, or if I am not satisfied with my property's 2021 reassessed value, what can I do?
If you have questions about your property's 2021 assessed value, tax class, or exemption status, please contact Assessment & Valuation at 306-975-3227 we’re here to help. Most assessment-related concerns can be resolved by chatting with an assessor before deciding to file a formal appeal with required fees.  Due to COVID-19 protocols, in-person inquiries are by appointment only and masks are required.

If you choose to proceed and file a formal appeal with the City’s Board of Revision your Notice of Appeal and the accompanying fee must be received between January 4 - February 4, 2022, the 30-Day Customer Review Period. Information on the appeal process is located on the back of the 2022 Assessment Notice. Please note,  in January 2022, a 2022 Assessment Notice was only mailed to a property owner if since January 1, 2021, there had been a change to their property's assessment from the previous year, tax status or ownership. In January 2022, approximately 15,000 assessment notices were mailed. A property owner did not need to receive a 2022 Assessment Notice in order to proceed with a formal appeal on their assessment. Visit saskatoon.ca/assessment.

To assist you in your assessment review, market and sales information is also available within the Property Assessment & Tax Tool , just enter your address.

Can I mail a letter with my concerns or questions regarding my assessment?
Yes. Please send your letter to City Hall, Assessment & Valuation, 222 -3rd Avenue North, Saskatoon, SK S7K 0J5 

Am I able to appeal my property taxes?
No. Only your assessment can be appealed, not your property taxes. Changes to your property assessment will only be considered if your formal assessment appeal with required fees is received during the during the 30-Day Customer Review Period, January 4 to February 4, 2022. 

When is the property tax notice mailed out, when is my payment due? 
Your annual property tax notice is mailed out in May of each year and is due on June 30 of each year.