
Property tax jump due to budget increase, assessment changes
Some property owners in Prince Albert are in shock after significant increases in their property tax bills.
Mayor Bill Powalinsky said that there are several reasons the jump was significant for some people this year, and the size of the increase can give a clue where it came from.
“A property tax increase of more than $500, would be as a result of revaluation. This is a revaluation year,” he said.
Residential properties pay tax based on 80 per cent of their assessed value, while commercial properties are taxed at 85 per cent.