Fluctuations in property valuations impacting property tax bills

In advance of property tax notices being delivered across the City later this week, the City of Prince Albert would like to advise property owners that some areas of the City will see shifts in their property tax bill as a result of the 2021 revaluation. In accordance with provincial legislation, the City is required to update the assessed value of properties every four (4) years. In 2021, properties were updated to reflect their value as of January 1, 2019. 

Assessed property values are one (1) factor that influence property tax rates and, depending on how each property’s value shifted in the last four (4) years, there are some properties that will be impacted more than others.

"To arrive at updated values, we examined the sales transaction information in the City," said Vanessa Vaughan, City Assessor for the City of Prince Albert. "Based on the data, there are certain areas in higher demand which means properties held value or increased value. Other areas where sales were lower saw their assessment value drop.  These types of trends over the past four (4) years have translated into property tax increases for some and decreases for others."

These fluctuations in property taxes are revenue neutral for the City of Prince Albert. Aside from the $35/property base tax, the City will not receive more revenue from taxes this year. "The base tax will generate funds for four new officers, but that’s all the City will receive for new funding this tax year," said Mayor Greg Dionne. “Those that pay more than an additional $35 to the City are experiencing an impact due to revaluation."

If a property increased in value there will be an increase in property taxes. In some cases, properties decreased in value but may still experience an increase in property taxes. In these cases it is because the drop in value of that property was less than the drop in value of properties in other areas of the City.

"Revaluation is complicated and shifts in the market can impact property owners in different ways, however it is a necessary process to ensure the City is keeping values up-to-date in accordance with legislation," said Vaughan. "Residents should be prepared for these fluctuations and watch for their notices when they arrive."

Property owners are reminded that property taxes cannot be appealed.  Only the assessed value of a property can appealed based on an error in the data used to arrive at the valuation. If a property owner believes there is an error in their valuation, they can file an appeal during the upcoming appeal period for 2022.

To learn more about revaluation, owners are encouraged to visit www.citypa.ca/revaluation. Property owners can watch for their tax notices later this week. 

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For media inquiries please contact:

Vanessa Vaughan
City Assessor
(306) 953-4350