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Saskatchewan Assessment Revaluation

by DMA Staff | Jul 13, 2016
DMA_Blog_SaskatchewanAssessmentReval

Provincial legislation in Saskatchewan mandates that the assessed values, on which school and municipal property taxes are levied, be updated every four years. The process was last undertaken in 2013, based on 2011 values. Accordingly, the next revaluation will take place in 2017, utilizing 2015 as the base year.

During a recent presentation, representatives of the Government of Saskatchewan provided preliminary estimates of the impact that the forthcoming update will have on assessed values. The following table highlights the anticipated changes by classification under the 2017 revaluation:

 

Assessment Classification

Forecasted* Increase in Assessed Values

Non-Arable Land and Improvements

108%

Residential Land and Improvements

14%

Multi-Unit Residential Land and Improvements

43%

Commercial Land and Improvements

40%

Oil & Gas Land and Improvements

15%

Pipeline Improvements

7%

Other Agricultural Land and Improvements

119%

Seasonal Residential Land and Improvements

15%

Residential Condominium Land and Improvements

4%

Mine Land and Improvements

19%

Grain Elevator Land and Improvements

22%

Railway Land and Improvements

27%

*Preliminary forecasts provided by the Government of Saskatchewan. Subject to change.

The overall impact of all expected changes is a 37% increase in assessed values, which would typically be a benchmark to measure your classification increase against. It is important to note that assessed value is one of many factors, including percentage of value (“POV”) and tax rates, which will determine the final property tax liability. Accordingly, the above information is not in itself a direct reflection of impending changes to tax exposure.

In order to ensure that the assessments of your assets remain fair and equitable, it is critical that all assessment and tax notices, along with any related correspondence are forwarded to DMA upon receipt for full review and analysis. Additionally, by proactively engaging assessment authorities on your behalf, DMA may be able to provide additional insight in pending changes and implement corrections prior to the issuance of final assessment notices.

Please do not hesitate to contact your local DMA office should you have specific questions or requests.