Wednesday, 11 January 2017 15:53

Swift Current property owners to receive property revaluation notices this week

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The City of Swift Current Assessment Department began distributing property revaluation notices last week for delivery to Swift Current property owners this week. Revaluation occurs every four years, as legislated by the Provincial Government, to update residential and commercial property values to align with current market values.

 

“The Revaluation process is important for municipalities to establish fair and equal distribution of property taxes amongst all properties,” explains Swift Current Mayor Denis Perrault. “Essentially, we are updating property values every four years to properly reflect our local real estate market. Our 2017 Revaluation is based on market values captured as of January 1st, 2015.”

Properties are not appraised individually during this process, but are instead analyzed by the Mass Appraisal method.

“Individual inspection of every property in our community every four years would be far too expensive and inefficient,” continued Perrault. “The Mass Appraisal method allows us to group properties with similar characteristics – such as location – to establish similar market adjustments.”

Revaluation will change the assessment value of most properties, with some seeing more significant shifts than others. While assessed property values will change as a result of Revaluation, the City adjusts the Uniform Mill Rate to offset the effect on Property Taxes.

“Property owners may be surprised when they first discover the value at which their property has been reassessed,” says Perrault. “However, it’s really important to remember that Property Taxes do not change in the same proportion as Revaluation. If a property owner has any questions or concerns, or if they want to inquire about the appeal process, I encourage them to contact our Assessment Department to speak with one of our representatives.”

The City of Swift Current Assessment Department can be reached via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by telephone at 306-778-2722.

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