Property Value (Assessment)

The Assessment Department is committed to providing the citizens of Yorkton with a fair and equitable assessment of their property.

Your assessment is calculated by qualified assessors employed by the Saskatchewan Assessment Management Agency and is based on the fair value of the property.

 
What is assessment?

Property taxes are not arbitrarily levied on property owners; it is based on a principle known as "ad valorem", which means one pays property tax based on the value or wealth held in the property they own in any municipality. It is important, therefore, that property values are accurate, fair, up-to-date and easy to understand.

Property assessment is not the same as property tax. The City of Yorkton uses property assessments as a basis for the fair distribution of taxes among property owners, and simply stated, property assessment is the process of determining a "fair value" for tax purposes.

Fair value is not market value; however, for most types of property it is close to average market values for the municipality or neighbourhood. The calculations used to determine fair value are based on the formulas, rules and regulations set out by Provincial Legislation and the Saskatchewan Assessment Manual.

For more information on the calculation of fair value please visit the Saskatchewan Assessment Management Agency web site. (www.sama.sk.ca)

 
What property is assessable?

All land and buildings (improvements) are assessable.

The term "land" refers to the legally surveyed parcel of ground to which a property owner has title.

The term "improvements" refers to buildings or structures erected or placed on the land, such a houses, sheds, garages and decks.

Items such as, fences, driveways, and landscaping features do affect average selling prices, but are not assessed in Saskatchewan.

 
Fairness

Property assessment promotes fairness by ensuring that two similar properties within a similar geographic area will be assessed at the same rate. All property values change over time, but they do not change at the same rate. Some properties increase in value faster than others, and if values were not updated as markets change some taxpayers would soon be paying a disproportionate share of taxes.

 
Why do I pay for school taxes when I don't have children going to school?

The prosperity and general well being of society, or the community we live in, is directly related to the education of its people. For that reason the costs of education are deemed to be the responsibility of all of society. Your education, for example, if received in Canada, was largely paid for by the previous generation of taxpayers.

Provincial legislation specifies that a portion of the school funding is to be collected by the municipalities. The public and separate school boards set their budgets and mill rates independent from the municipalities, who in turn add this to their levy for the year. People who do not own property contribute indirectly through their rental or lease payments.