The assessment roll has been prepared and is now open to inspection at the municipal office Monday to Friday from 9:00 a.m. to 5:00 p.m. until Wednesday, June 24, 2020. For more information please refer to the attached newsletter.
The Saskatchewan Assessment Management Agency (SAMA) determines the assessed value for properties in the rural municipality as part of a process established by provincial legislation. The province establishes property classes, percentages of value and exemptions. The province also sets the mill rate for the education sector. The final part of the process involves municipalities determining the local mill rate annually based on local budget needs. Municipalities then multiply the taxable assessment by the local mill rate* to produce property tax levies, also known as your Tax Notice.
Implemented once every 12 years to update any physical changes to a property. SAMA physically inspects the properties to pick up any changes or new builds that may have been missed in the past. A re-inspection can occur at any time, and has nothing to do with revaluation.
Occurs every 4 years to update the market value of a property (no physical inspection of the property). SAMA receives information from ISC regarding all properties that have sold in the RM. When this information is received, SAMA then has to determine which of the sales were at arm’s length and which sales were fair market value. Following this step SAMA will then complete a market analysis to determine the new property assessments.
2017 was the year of the last revaluation, with a legislated base date of January 1, 2015. The new revaluation (2021) will update assessed values to reflect a new base date of January 1, 2019.