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Regina property values will be reassessed starting in January.
According to the City of Regina, property values must be updated every four years to keep with provincial legislation. Official assessment notices will be issued starting next month.
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“Properties will be assessed at a new assessment value as of January 1, 2023,” the city explained in a statement.
“This value will be used in the calculation of 2025 property taxes.”
Preliminary values are available on the city’s website, and residents are encouraged to review the entries and ensure their information is up to date. Owners are encouraged to verify that the primary property characteristics are correct, unusual circumstances not shown that could affect the property’s value, such as structural issues or location.
Property owners were also advised to compare their assessments with similar properties in the area and verify that the assessed value reflects what similar properties have sold for as of Jan. 1, 2023.
“Estimates are provided to give property owners additional time to understand the potential impact the updated property assessment value would have on their taxes, if current tax policies were applied,” the city explained.
“The assessed value of a property is just one of the factors used in the tax formula.”
