Tax Rates & Mill Rates
On your property tax notice, you will see a single number called 'Tax Rate'. The Tax Rate is calculated by taking the Mill Rate and dividing by 1,000, then multiplying that number by the Mill Rate Factor. It's important to note the Tax Rate is not the Mill Rate.
To calculate your property tax, multiply your taxable assessment by the tax rate.
Taxable assessments are a percentage of the assessment value. Provincial legislation sets the percentages based on property classes. The City of Saskatoon determines assessments based on legislation and direction from the provincial agency that provides assessment oversight, the Saskatchewan Assessment Management Agency (SAMA).
For 2023, the Percentage of Value (POV) used for Residential taxable assessments is 80% of the property's assessment value, while Commercial/Industrial taxable assessments are 85% of the assessment values.
The 2023 Tax Rates are shown below:
|2023 Tax Rates||City||Library||Education|
|Commercial and Industrial Class||0.0114813||0.0012026||0.0068600|
|Private-owned aircraft hangar subclass||0.0071165||0.0007454||0.0068600|
|Multi-unit residential subclass||0.0075612||0.0007920||0.0045400|
|Resource (oil & gas, mine & pipeline)||0.0114813||0.0012026||0.0098800|
City of Saskatoon and Saskatoon Public Library Mill Rates
The total revenue required from taxation for each taxing authority is divided by the total taxable assessment in Saskatoon to arrive at the mill rate for each authority, per $1000 of taxable assessment.
Total revenue required ÷ (Total taxable assessment x 1000) = Mill Rate
City of Saskatoon and Saskatoon Public Library Mill Rate Factors
The mill rate factor is used to determine the proportion of tax revenue that each property class will pay.
City Council's approval of a tax ratio of 1.59 means that for every $1.00 in property tax that a residential property owner pays, a non-residential property owner will pay $1.59 on an equivalent assessment.
Education Mill Rate
The Province of Saskatchewan sets the mill rates for education property tax for all public school divisions. The Saskatoon separate school division set their own mill rates and adopted the provincial mill rates. There are different education property tax mill rates for Agricultural property, Residential property, Commercial/Industrial and Resource (oil and gas, mines and pipelines).
Property Tax Levies
(Taxable assessment/$1000) x City Mill Rate x Mill Rate Factor = City of Saskatoon Tax
(Taxable assessment/$1000) x Library Mill Rate x Mill Rate Factor = Saskatoon Public Library Tax
(Taxable assessment/$1000 x Education Mill Rate(s) = Education Tax
City of Saskatoon Tax + Saskatoon Public Library Tax + Education Tax = Total Property Tax Levy