Revaluation occurs every four years, as legislated by the Provincial Government, to update residential and commercial property values to align with current market values. Our Assessment Department has begun distributing Property Revaluation notices for delivery to Swift Current property owners as of March 29, 2021.
Revaluation can be confusing, but it is necessary. Check out our video below to learn more.
Revaluation: Frequently Asked Questions
What is Assessment?
Assessment is the process of placing value on a property (meaning land and any buildings or structures).
What is Revaluation?
Over time, the value of your property changes. Legislation in Saskatchewan requires revaluations to be completed every four years to reflect those changes. 2017 was the last Revaluation, 2021 is the current Revaluation year and 2025 will be the next Revaluation year.
What does Revaluation mean for me?
It means that the assessed value of your property might change. Every property is different. Changes to your property or neighborhood can affect your assessment.
Why is the Assessed Value of my property not market value?
It’s important to understand the property assessment identified on your 2021 Assessment Notice reflects its value as of January 1, 2019 and not today’s market value.
What am I supposed to do with my Assessment Notice?
The Assessment Notice is to notify you of your Assessed Value and an annual method of checking your information:
- The Assessed Value placed on your home.
- Ownership information.
- The spelling of your name.
- The mailing address we have for you.
- The school support allocation on your property.
Why is a comparable house in my neighborhood Assessed lower than mine?
There are several characteristics that determine value. For instance, the square footage, lot size, age, basement area, garage area, porch or deck area and many more. Other aspects of your property, like the overall condition, neighborhood, renovations and more can affect the value also. Should you have any questions or concerns regarding any of these elements please contact the Assessment Department.
How will my property tax be impacted?
Revaluation is an update to all values. Property Tax is based on the annual budget. The change in your property value does not affect budget. It is the City’s budget decisions that could increase or decrease the actual tax bill.
When will I know what my actual tax bill is?
Tax notices generally go out at the end of May or in June.
How has COVID 19 affected the 2021 revaluation?
Any impacts to property value will not be reflected in the 2021 Revaluation, as the COVID-19 pandemic occurred after January 1, 2019. Your property value is based on what occurred before January 1, 2019.
What if I want to appeal my assessment?
Should the Assessed Value of your property be a concern, there is an appeal time frame of 60 days in a Revaluation year and of 30 days in a regular Assessment year. This appeal period begins on the date the Assessment Notice is mailed. This year the Appeal time frame is March 26, 2021 to May 25, 2021.
How does an appeal work?
Should there be a mistake in your assessment, you are required to speak to an assessor. It is the role and primary function of the Assessor to correct any error upon finding it. Should the Assessor be unable to find error and you still have a concern, you are required to fill out and provide Form C along with a fee of $25.00. Form C: Notice of Appeal to the Board of Revision, can be found here or a copy may be picked up from City Hall. Your Assessment Notice has all information and instructions for the appeal process as well.
As a property owner what may I appeal?
- Property Valuation: Cost Approach, Direct Comparison Approach or the Income Approach
- Property Classification: Residential, Multi-Residential, Commercial, Industrial etc.
- Exemption: Infill, Multi-Family, Expansion or Improvement.
- Preparation or content of the Assessment Roll: Ownership
- Preparation or content of your Notice of Assessment: Your name, mailing address and School Support.
Can I appeal my tax bill?
Your Tax Levy cannot be appealed.
What if I don’t use all City services? Can I get lower taxes?
The City of Swift Current’s property taxes fund services that all residents have access to, including police, fire, protective services, parks, recreation and cultural facilities, transit and roadways, garbage and recycling collection and more. While some residents may not directly access or use some of these services, the cost of the services is distributed among all taxpayers.
Do I have to pay my taxes if I am appealing my assessment?
In order to avoid penalties, it is important to pay your property taxes by the payment deadline. If, after your appeal, the Board of Revision decides to lower your assessment, an adjustment will be made to your tax account and you’ll receive an amended tax notice with a new tax amount. Any credit in your tax account is eligible for a refund upon request.
Why do I pay school taxes when I don’t have children, or I am a senior?
Provincial legislation specifies that municipalities collect school support. The Provincial Government does offer a Seniors Education Property Tax Deferral Program by providing a repayable loan for the education property taxes. More information on this program can be found on the Government of Saskatchewan website.
How to Navigate Your Revaluation Notice
Are you wondering what to look for on your Revaluation Notice? A quick glance at the following guide will assist you...