What is property assessment?
Assessment is the process of valuing all properties in an area using mass appraisal techniques. Property assessment is not the same as property tax. Local governments use property assessments to calculate property taxes. Property assessments link the value of a property to market conditions. Since property values change over time, all assessments are calculated according to a 'base date' to ensure fairness.
The Saskatchewan Assessment Management Agency (SAMA) determines the assessed values of all of the properties in the municipality. It is an agency that operates independently from government.
What property is assessable?All land and improvements (buildings) are assessable.
- The term "land" refers to the ‘parcel of land’ that is legally surveyed parcel of ground to which an owner has title or a lessee has access.
- "Improvements" are buildings or structures on the land, including machinery or equipment that is used to service the building.
- "Property" means land or improvements or both.