2017 Preliminary Values Detailed Trends 2017 Revaluation - PowerPoint PPT Presentation

2017 Preliminary Values – Detailed Trends  2017 Revaluation Milestones  Sales Trends for Residential and Arable Agricultural Land  2017 Preliminary Assessed Value Trends  Reports to Municipalities

2017 Revaluation – SAMA Milestones  Preliminary Values to Government Relations – April 8, 2016  Preliminary Values to Municipalities – June 30, 2016  Provincial Tax Classes and Percentages of Value – September/October 2016  Final Values to Municipalities – Starting in January 2017  SAMA View Update – January, 2017 (including updated ratepayer property profiles)

Assessments - Foundational Component of the Property Tax System Local Mill Tax Classes, Rates & Property Property Percentage Taxes Tax Tools Assessment of Value & Payable Municipality SAMA Exemptions GR Uniform Education Mill Rates GR

Assessment Changes Tax Changes Before Revaluation Local Gov’t Required Taxable Budget Mill Rate Assessment Needs $250,000,000 10 (0.010) $2,500,000

Assessment Changes Tax Changes Before Revaluation Local Gov’t Required Taxable Budget Mill Rate Assessment Needs $250,000,000 10 (0.010) $2,500,000 After Revaluation Local Gov’t Taxable Required Budget Assessment Mill Rate Needs 5 (0.005) $500,000,000 $2,500,000

Residential Sales Trends (to March 2016) 1.50 Residential Median SAR Trend Residential Median Trend 1.40 January 1, 2015 Poly. (Residential Median Trend) Base Date 1.30 January 1, 2011 Base Date 1.20 1.10 1.00 R² = 0.9094 0.90 0.80 -70 -60 -50 -40 -30 -20 -10 0 10 20

Residential Sales Trends (to March 2016) 1.50 Residential Median SAR Trend Residential Median Trend 1.40 January 1, 2015 Poly. (Residential Median Trend) Base Date 1.30 January 1, 2011 Base Date 1.20 1.10 1.00 R² = 0.9094 0.90 0.80 -70 -60 -50 -40 -30 -20 -10 0 10 20

Arable Ag Land Sales Trends (to March 2016) 3.00 Arable Ag Land Mean SAR Trend January 1, 2015 Base Date Agland Arable Mean Trend 2.50 Poly. (Agland Arable Mean Trend) 2.00 January 1, 2011 Base Date 1.50 1.00 R² = 0.9423 0.50 0.00 -70 -60 -50 -40 -30 -20 -10 0 10 20

Arable Ag Land Sales Trends (to March 2016) 3.00 Arable Ag Land Mean SAR Trend January 1, 2015 Base Date Agland Arable Mean Trend 2.50 Poly. (Agland Arable Mean Trend) 2.00 January 1, 2011 Base Date 1.50 1.00 R² = 0.9423 0.50 0.00 -70 -60 -50 -40 -30 -20 -10 0 10 20

Anticipated 2017 Assessment Shifts • Preliminary Assessed value changes from January 1, 2011 to January 1, 2015 base dates • Local 2017 assessment shift available to council by June 30, 2016 Three levels of trends to consider:

Anticipated 2017 Assessment Shifts • Preliminary Assessed value changes from January 1, 2011 to January 1, 2015 base dates • Local 2017 assessment shift available to council by June 30, 2016 Three levels of trends to consider: 1. Provincial

Anticipated 2017 Assessment Shifts • Preliminary Assessed value changes from January 1, 2011 to January 1, 2015 base dates • Local 2017 assessment shift available to council by June 30, 2016 Three levels of trends to consider: 1. Provincial 2. Local

Anticipated 2017 Assessment Shifts • Preliminary Assessed value changes from January 1, 2011 to January 1, 2015 base dates • Local 2017 assessment shift available to council by June 30, 2016 Three levels of trends to consider: 1. Provincial 2. Local 3. Property

2017 Assessment Trends  Preliminary Trends based on 100% assessed values reported to Government Relations April 8, 2016  Regulated Properties  Pipeline & Railway  Heavy Industrial and Mines  Oil and Gas RPE  Agricultural Land  Non-Regulated Properties  Residential  Commercial

Assessed Value 2017 / 2016 Multiple

Assessed Value 2017 / 2016 Multiple

Assessed Value 2017 / 2016 Multiple

SAMA Residential - 2017 / 2016 Multiple

SAMA Residential Shifts by Urban Municipality (Median = 1.18) Legend: % Change

Residential Multiple Decrease (-20 to -40%) Legend: % Change

Residential Multiple Increase (+20 to +40%) Legend: % Change

Residential Multiple Increase (> 40%) Legend: % Change

SAMA Residential Shifts By Resort Community Legend: % Change

Residential Assessment Shift Sample Municipality (Median 1.08) Legend: % Change

Residential Assessment Shift Sample Municipality (Median 1.24) Legend: % Change

2017 Revaluation Preliminary Values Delivery  Deliver preliminary values to client municipalities after maintenance completed in the May to June time frame.  Message to Council:  Please have a good look at the values and provide feedback to us.  We are happy to meet with clients to discuss values as required.

2017 Assessed Value Trend Report Sample 2013 Revaluation Report RM of Sample

2017 Taxable Assessed Value Trend Report Sample 2013 Revaluation Report RM of Sample

2017 Detailed Assessed Value Change Report Sample 2013 Revaluation Report Town of Sample