How will the property reassessment impact your tax rate?

How will property reassessments impact your municipal tax rates? Here's some background as well as details about the appeal process.

Most homeowners will find their municipal taxes largely unchanged as a result of the 2017 Reassessment.

Every four years, property values must be reassessed according to provincial legislation. 2017 is a reassessment year and City Assessor Don Barr said, overall, the notices being mailed to residential and commercial property owners on January 5 will show changes in value that will result in only minimal municipal tax changes for most homeowners.

“In general, residential property values have been stable and the changes in value for 2017 are small,” said Barr. “Multi-family properties like apartment buildings as well as commercial properties will see a bit more of an increase in value because the market for those properties has increased. 

“What homeowners should know is that an increase in your property’s assessed value doesn’t automatically mean you’ll pay more property tax. This is about tax fairness – what determines a change in your household tax bill is how it changed in comparison to its tax class group.”

Final tax amounts are determined by the City’s 2017 budget, which will be considered by City Council February 13. Property owners will see tax notices in May, and they’ll include the Government of Saskatchewan’s bill for education tax. Education tax is set by the provincial government and all funds go directly to the province.

Property owners can learn more and view their home’s recent assessment history and tax estimates at Regina.ca/Assessment. There is a 60-day window for owners to appeal their property assessment, which begins with a call to Service Regina at 306-777-7000 (Option 2).

2017 Reassessment Backgrounder 

  • Because property values have been stable, due to the 2017 reassessment 90 per cent of properties will see a change of less than 10 per cent in municipal taxes if today’s tax rate and policies were applied. 
  • If the current tax policies and budget were applied, the 2017 reassessment would result in about 70 per cent of homes seeing a property tax decrease and 30 per cent of homes seeing a property tax increase.
  • Multi-family properties will see the biggest change – an increase of about 27 per cent.

  • In February, City Council will consider the 2017 budget and set tax policies that include 2017’s mill rates, mill rate factors and the phase-in of tax changes for commercial properties. Those decisions will determine actual property taxes owing for each property in Regina.

  • The provincial government sets the education property tax mill rate. Although the bill arrives with the City of Regina property tax bill, the education property tax is set by the Government of Saskatchewan and the funds are forwarded directly to the province.

  • Library Boards also set their own mill rates. 

  • The information posted on Regina.ca/Assessment is estimated using the current 2016 tax policy, mill rate factors and mill rates.
  • Reassessment is done under provincial legislation. The law requires all municipalities to conduct a reassessment every four years. 
  • There are approximately 83,000 properties in Regina.
  • 2017 Reassessment key dates:

 

    • January 5 - Reassessment notices mailed to all property owners
    • February and March - City Council’s budget process sets mill rates, mill rate factors and tax policy that will determine final tax amounts

    • March 6 - Final day to appeal a property’s assessment
    • May - Tax bills are sent to all property owners