How Taxes Are Calculated

Each year, the City and School Boards set their own tax rates, also called mill rates. Mill rate is the amount of tax you will pay for every $1,000 of assessed value. All residential and commercial property in Swift Current is assessed on a 4-year cycle. 

Taxable value depends on the type of property, and those percentages are set by the Province:

Residential property is taxable at 80% of assessment value
Commercial property is taxable at 85% of assessment value

Currently, the mill rate and mill rate factor are multiplied by the taxable assessment and added to the base tax to determine taxes.
The base tax = $820

Municipal Tax Calculations:

Base Tax + Taxable value x Mill Rate x Mill Rate Factors  divided by 1000

Education Tax Calculations: 

Taxable value x Mill Rate divided by 1000