By now, you will have received your Assessment Notice for 2017. This year, all properties in Saskatchewan were reassessed. This adjustment is done every four years and this particular year is bringing the base values up to 2015 values; closer to the amount of what you would receive if you sold your home. SAMA (Saskatchewan Assessment Management Agency) is the agency who assesses the Town of Balgonies’ properties.
THIS IS NOT YOUR TAX NOTICE!
During budget deliberations, Council took into account the higher assessments. They lowered the mill rate from 7 mils to 5 mils and kept the base tax the same as last year. Council budgeted with only a 1% higher municipal tax levy than 2016 – basically revenue neutral. Revenue neutral is a taxing procedure that allows the government (Council) to still receive the same amount of money in order to run the town efficiently, despite changes in tax laws.
The values on land for the 2017 revaluation changed dramatically, improvements to your property also will have increased your assessment and if your new home was not fully assessed in 2016, it may also have changed the assessment for 2017.
To calculate the property tax, the authority – in this case the Town of Balgonie – multiplies the taxable assessed value by the mill rate and then divides by 1,000. The base tax is then added to that amount and then the same calculation for the school division is added to that.
The Town is ONLY the collector of the school taxes for the division. The Town does not set their mill rate, but we are told by the Provincial Government what the school rate mill rate will be set at.
Please feel free to check out SAMAview for more information on your own property or other residents’ or call the Town office at (306) 771-2284 for any information.