Understanding Property Taxes in Saskatoon: What Homeowners Need to Know

Property taxes are an important—but often confusing—part of homeownership in Saskatoon. Whether you’re buying your first home, selling, or just trying to budget for the year, understanding how property taxes work can help you make informed financial decisions.

This guide breaks down everything you need to know about Saskatoon property taxes, including how they’re calculated, when they’re due, and what they mean for buyers and sellers.

What Are Property Taxes, and Why Do They Matter?

Property taxes help fund essential city services, including road maintenance, emergency services, public schools, and parks. Every homeowner in Saskatoon is required to pay property taxes annually based on the assessed value of their home.

For homebuyers, property taxes are an ongoing expense to consider in your budget.

For sellers, understanding your tax obligations can help avoid surprises at closing.

How Are Property Taxes Calculated in Saskatoon?

Saskatoon property taxes are based on two key factors:

1️⃣ The Assessed Value of Your Property – The City of Saskatoon assesses properties every four years based on market conditions. Your home's value is determined using recent sales data and property characteristics.

2️⃣ The Mill Rate – This is a percentage set by the city and the province that determines how much tax you owe based on your assessed value.

📌 Example: If your home is assessed at $400,000 and the mill rate is 10, your annual property tax would be $4,000.

How Often Do Property Assessments Change?

Property assessments in Saskatoon are updated every four years. However, you may see changes sooner if you:
✔ Renovate or make major improvements to your home
✔ Subdivide or merge properties
✔ Appeal your current assessment and receive an adjustment

📊 Want to know your current assessed value? You can check it on the City of Saskatoon’s website!

When Are Property Taxes Due in Saskatoon?

The City of Saskatoon issues property tax notices in May, and payments are due at the end of June. You have several options for paying your taxes:

✔ Lump Sum Payment – Pay your full tax bill before the due date.
✔ Monthly Payment Plan (TIPPS) – Spread your tax payments out over the year with automatic withdrawals.

🚨 Missed a payment? Late payments may result in penalties, so it’s important to stay on top of your tax deadlines!

What Property Taxes Mean for Buyers & Sellers

If You’re Buying a Home

• Property taxes are pro-rated at closing, meaning the buyer and seller split the year’s taxes based on when ownership changes hands.
• If you have a mortgage, your lender may include property taxes in your monthly payment.

If You’re Selling a Home

• You must ensure any outstanding taxes are paid before closing.
• If you’ve already paid the full year’s taxes, you may be reimbursed for the portion covering the months after the sale.

🏡 Not sure how property taxes will affect your sale or purchase? Let’s discuss your options! If a seller is on TIPPS, the buyer will continue on this plan until renewal. IF the seller has paid annually, then the buyer will pay the remainder of the year.

Need Expert Advice on Saskatoon Real Estate? Let’s Talk!

Property taxes are just one piece of the homeownership puzzle. If you’re looking to buy or sell in Saskatoon, I can help you navigate the process with confidence.

📩 Reach out today for a personalized consultation! Whether you're a first-time buyer, a seller, or just planning ahead, I’m here to guide you every step of the way.