A reassessment of all property classes is required by provincial legislation every four years so that property values are more current. The property reassessment process ensures that all Saskatoon property owners pay their fair share of municipal and provincial education property taxes; owners of properties with similar values will pay similar property taxes. Reassessments have no impact on the total property tax amount a municipality raises.
All properties in the province were reassessed in 2017. The updated 2017 assessed values were determined based on sales of similar properties as of the provincially legislated base date January 1, 2015. Your 2017 assessed value will remain in place until the next provincially legislated reassessment in 2021, pending any changes to the property. In 2021, the reassessment of your property will reflect an updated assessed value as of the base date January 1, 2019.
View our informative short video Understanding Residential Property Assessment to learn more about the factors used to determine your residential property's assessed value.
The City of Saskatoon is committed to placing fair, accurate and equitable values on all property types in the city.
Frequently Asked Questions about Property Assessment
What does reassessment mean?
The Province of Saskatchewan requires the City of Saskatoon (City) to conduct a reassessment of all property classes or types every four years. The purpose of a property reassessment is to recalculate the property’s value so that it reflects an updated and more current valuation.
In 2017, all property types had their values reassessed and updated to reflect the assessed value of the property as of January 1, 2015. This date is referred to as the base valuation date. Your property's 2017 assessed value will stay in place from 2017 to 2020. The next province-wide reassessment of all property types will be in 2021. At that time, the reassessment of your property will reflect an assessed value as of the next base valuation date, January 1, 2019.
How is reassessment connected to what I pay in property taxes?
Assessment of all properties is a way of equitably distributing the tax load. Property taxes are based on your property’s assessed value, and owners of properties with similar values pay similar taxes. Your property’s assessed value is used to distribute the funds the City, Library and School Boards require to operate.
Will my property taxes change with a reassessment?
Not necessarily. It is common for properties to experience property assessment increases or decreases at different rates due to changes in the market place or economy. There are some properties which its assessed values will have increased or decreased more than the average within its property tax class; these properties will see tax changes as a result of the 2017 Reassessment.
Does reassessment and the term revaluation mean the same thing?
Yes, these terms can be used interchangeably. They both 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 2017 reassessment of your property reflects its assessed value as of January 1, 2015; this assessed value will be in place from 2017 to 2020.
Is the assessed value on my Assessment Notice, the value I would sell my property for today?
No. The assessed value is not the value of what you would sell your property for today — the assessed value is calculated for taxation purposes only and is an estimate based on sold properties in your market area as of the valuation base date of January 1, 2015. Sales that have occurred after this valuation date cannot be considered in the 2017 reassessment as per legislation.
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 the following 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 values developed consider all relevant sales within your neighborhood.
What if the real estate market has changed since the base valuation date of January 1, 2015?
Changes in the real estate market after January 1, 2015 will be reflected in the next province-wide reassessment in 2021. As per legislation, market data or information that surfaced after the valuation base date of January 1, 2015 could not be considered in the 2017 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 also allows you review market area and neighbourhood assessments similar to yours.
How does the City assess residential properties?
The City uses a sales comparison approach to develop assessment models. This 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.
What factors may influence the assessment of my residential property?
For residential assessment, some of the factors used to determine the value include location or neighbourhood of the property, lot size, living area, quality of construction and age. 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. For more information on how residential assessments are calculated, check out our informative video, Understanding Residential Property Assessment
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. Legislation prohibits the calculation of an assessed value for one individual property.
How does the City assess commercial properties?
The most commonly used approach to value commercial properties is 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.
Will the City collect more taxes as a result of the 2017 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 – 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 am not satisfied with my assessment, what can I do?
You have 30 days from the mailing date on your assessment notice to file a formal appeal at the Board of Revision. This is called the 30-Day Customer Review Period. For 2018, appeals must be filed between January 2 to February 2, 2018.
To assist you in your assessment review, market and sales information is available within the Property Assessment & Tax Tool
If you require further information or have questions, contact Assessment & Valuation at 306-975-3227, or visit the Assessment & Valuation Office located one block north of City Hall at 325 - 3rd Avenue North, between 8:00 a.m. – 5:00 p.m. Ask to speak to an assessment appraiser, who will explain to you how your assessment was arrived at.
Can I mail a letter with my concerns or questions regarding my assessment?
Yes. 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 assessment appeal is received during the during the 30-Day Customer Review Period, January 2 to February 2, 2018.
When will the 2018 Property Tax Notices be mailed? What are my payment options?
The 2018 Property Tax Notices will be mailed May 2018, and your 2018 Property Tax payment is due June 30, 2018.
There are many payment options available to you. If you are paying after June 30 of the current tax year, please call our customer service representatives at 306-975-2400 to confirm your tax amount due including any penalties.