SASKATOON — The changing market and the COVID-19 global pandemic four years ago have reflected changes in the value of each residential property depending on the community or neighbourhood in which it is located, based on the 2025 Assessment Role. The updated value was based on similar properties as of Jan. 1, 2023.
The Saskatchewan Assessment Management Agency Board determines the base date used in its four-year assessment cycle. The City of Saskatoon, through City Assessor Bryce Trew, released the findings on Tuesday, Jan. 28, in a media briefing at the City Hall Media Room. The data, including the COVID years, was updated from Jan. 1, 2019, to Jan. 1, 2023.
Trew said reassessment happens province-wide every four years, including all property types—residential and commercial. The process is essential to ensure the city's value is updated to guide owners in paying the correct amount in their property tax. Owners can appeal their property's assessed value.
“Due to the 2025 reassessment, the average residential property’s assessed value in Saskatoon will increase by 13 per cent. [However], it is essential to note that this does not mean your residential property tax will increase by 13 per cent,” said Trew.
“If your property’s assessed value changes more than 13 per cent from 2024 to 2025, then your share of property tax will increase. If it increases by less than 13 per cent, your property tax will decrease.”
Brighton leads the list of properties that increased in value with a 22 per cent jump to 556,422 from $457,685 last year. Aspen Ridge and Stonebridge had a 20 per cent change in assessment, with the former increasing from $511,624 to $614,538, while the latter at $543,668 from $454,838. Elk Point ($410,104 to $413,711) and Montgomery Place ($410,104 to $488,270) rose by 19 per cent.
Kelsey-Woodlawn residential properties decreased by seven per cent, from $224,673 to $208,855, followed by Caswell Hill at four per cent ($256,116 to $246,782) and three per cent at Meadowgreen ($248,552 to $239,867). Property prices at Mayfair ($216,107 to $213,195) and Mount Royal ($249,654 to $246,823) decreased by one per cent.
Trew said the last assessment cycle saw residential properties decrease in value compared to commercial, which continues to increase. The assessment included abandoned properties, as all that exists in the city must be included on the list, and the value will depend on their condition.
“For an abandoned property, it all depends on the physical state of that property. They would be included in the assessment. We have to assess all properties that exist within the city. Suppose there are physical characteristics that have shown that the property is deteriorating. In that case, there is the potential that we would lower the assessment depending on how deteriorated that property is,” said Trew.
He added that most jurisdictions in North America use the ad valorem tax to collect money to fund their municipalities' essential services. This system ensures that high-value properties pay a higher property tax.
“The budget process determines how much money the city needs for property tax or how big the tax pie is, and the assessment process determines each property's fair share of property tax or how big of a slice of the tax pie is your responsibility. In Saskatoon, four key organizations contribute to the assessment and property tax. The first is the province. The province sets legislation and empowers SAMA to oversee the assessment process,” said Trew.
“SAMA has two functions of an assessment. They can provide service to rural communities, providing valuation and roll maintenance. They do this everywhere in Saskatchewan except Regina, Prince Albert, Swift Current and Saskatoon. Their second role is through their technical standards and policy division.”
He added that the total taxable assessment for all 98,212 taxable residential properties increased by $4.1 billion, from $43.1B to $47.2B. Under the residential tax class are single-family units, most properties will increase by 13 per cent. Residential condominiums will go up five per cent and multi-residential 24 per cent.
The commercial property tax class decreased by two per cent, retail dropped by 10 per cent, offices fell by 17 per cent, industrial increased by 10 per cent, and the hotel and motel industry fell by 13 per cent.
For more information, visit saskatoon.ca/assessment, call 306-975-3227 for questions, or book an in-person appointment at City Hall's Assessment & Valuation from Monday through Friday, 8 a.m. to 5 p.m.
