Spike In Property Value Expected

It has been five years since SAMA has studied what homes in the city of Moose Jaw are worth and, their preliminary report would suggest, some big increases will soon be realized.

It's really no surprise that property has increased in value.  Saskatchewan is a hot spot for development right now but the latest numbers that are being used for property taxes came from 2006, right before the market exploded.

SAMA CEO Irwin Blank explains that just because the value of your home increases, doesn't always mean taxes increase.

"If your assessment is increasing, essentially the same as the average for Moose Jaw, then the level of taxes that you'll be paying will likely be very similar if not the same as what you were paying the year before," he explains.  "However, if you're assessment increases more than the average, then you may see an incremental increase in taxes."

The Saskatchewan Assessment Management Agency is predicting that residential properties have increased by 85 per cent in the last few years.  In Moose Jaw, nearly every corner of the city has experienced some sort of growth in value.  From vacant lots, to even abandoned homes, the land itself is worth a lot more than it was five years ago so that makes the entire property worth more.

SAMA will release its final report in January to give us a better idea of what properties are going to be worth.  With that report they will also fully launch a new website that allows property owners to take a closer look at what their property is worth compared to others in your neighbourhood.