Hold on to your wallets: property taxes could go up in 2017
You could be paying more for property taxes in the coming year.
The government is increasing the percentage of value (POV) of your home that is assessed to calculate taxes. The POV determines the taxable value from the assessed value.
That amount is then multiplied by the mill rate to determine how much property tax you will pay.
Property values have been rising in Saskatchewan from $108 billion in 2013 to $146 billion in 2017. Some farm land has gone up more than 100 per cent in four years.