Changes in this year’s property reassessments resulted in a decline of more than $500 million in total taxable values, according to data from city hall.
The Saskatchewan Assessment Management Agency (SAMA) reassesses properties every four years. This year was a revaluation year, so the agency used data from Jan. 1, 2019 to set the value of properties until 2025.
In 2020, the confirmed assessment value of total taxable properties in Moose Jaw was $4,464,729,290. This year, that number declined to $3,940,802,260, resulting in a drop of taxable assessment values of $523,927,030.
City administration presented the data during a recent city council meeting. Administration pointed out that SAMA has not confirmed the 2021 taxable assessed values or set the preliminary roll, so the data could change based on decisions that the board of revision makes. Many of those decisions will likely take 18 to 24 months, based on past practice.
There have been 152 preliminary appeals to the board of revision this year, including 116 from commercial, 34 from residential and two from other.
In comparison, there were 30 commercial appeals and 12 residential appeals last year.
During the last property reassessment in 2017, there were 106 commercial appeals and 110 residential appeals for a total of 216.
Based on the report presented to council, the data for 2020 (confirmed), 2021 (not confirmed) and the change in assessment showed in some property sub-classes in Moose Jaw show:
Commercial
Taxable: $683,252,990 / $679,294,36 / minus-$2,958,630
Federal grant in lieu: $25,828,100 / $16,228,510 / minus-$9,599,590
Provincial grant in lieu: $37,185,800 / $19,126,140 / minus-$18,059,660
Exempt: $826,002,020 / $582,648,120 / minus-$243,353,900
Golf
Taxable: $861,700 / $1,010,730 / $149,030
Exempt: $36,628,600 / $9,800,490 / minus-$26,828,110
Residential
Taxable: $2,345,415,630 / $2,097,678,690 / minus-$247,736,940
Federal grant in lieu: $598,560 / $518,560 / minus-$80,000
Provincial grant in lieu: $15,631,280 / $13,786,640 / minus-$1,844,640
Exempt: $39,224,970 / $48,332,990 / $9,108,020
Condo
Taxable: $183,269,120 / $162,436,800 / minus-$20,832,320
Grants-in-lieu are grants based on tax notices, not an actual payment of taxes. They are based on the previous year’s tax notices for properties owned or managed by the Ministry of SaskBuilds and Procurement, according to the provincial government’s website. Since the payments are grants, the government can never be considered in arrears on taxes at any time.
Health centres, educational buildings and museums currently owned or managed by the Ministry of SaskBuilds and Procurement are exempt from a grants-in-lieu payment. Examples include Saskatchewan Polytechnic (formerly SIAST), regional colleges, Crown-owned health institutions, and buildings occupied by a health district and regional care homes.
The next regular council meeting is Monday, Sept. 27.
