Property Taxes
Please visit FIS to query up-to-date
information regarding property taxes and assessments.
Property taxes are an important part of any municipality, as
they help to ensure the citizens of Yorkton have excellent emergency services such as police and fire, as well as quality
recreational facilities and a sound infrastructure.
Base Tax
City Council has opted to implement a Base Tax in the amount of $695.00 for
residential properties, excluding vacant land. The base tax was applied in 2001
as a means to fund the cost of police, fire and residential garbage collection.
The revenue derived from the base tax goes towards decreasing the mill rate for
condominiums and residential properties.
The Base Tax is allocated as follows:
| |
Fire |
|
$290.00 |
| |
Police |
|
$308.00 |
| |
Garbage |
|
$97.00 |
| |
Total |
|
$695.00 |
Gallagher Center Upgrade Base Tax
This capital project requires $1,200,000 on an annual basis for loan
payments/debt on the facility, and these funds are raised by adding a flat rate
of $100.00 per residence, including multi-unit properties, along with a mill rate increase on commercial.
Capital Works Base Tax
The Capital Works Base Tax remains the same at $100/property including residential, commercial, agriculture and vacant land. Funds are targeted towards capital improvements in core services such as arterial roads, sidewalks, drainage, traffic controls, etc.
Business Improvement District
The Business Improvement District was established to assist local business people and property owners in revitalizing their business, as well as expanding trade and commerce in their district.
The City of Yorkton provides administrative assistance to the BID by collecting a levy established by the business community from each property owner located within the BID district. These funds are then used by the BID for various activities such as: streetscaping, lighting, market and promotion of programs, etc.
The levy is based upon a flat $200.00 fee per property plus 0.55 mills of total tax assessment.
Mill Rate and Tax Calculation
To determine what the municipal mill rates will be the City
first calculates how much property tax revenue is needed for operating and
capital costs for the year, and what portion of property taxes are to be
collected from commercial and residential property
owners. The total revenue required is
then divided by the taxable assessment, with the result being the applicable mill
rate. The mill rate may change from year
to year depending on the tax revenue required and possible changes to the
assessment base.
The education mill rates are set by the provincial government as of 2009. The City of Yorkton has no control
over school board budgets or operations.
The property tax calculation is as shown below.
Taxable
Assessment |
X |
Mill Rate/1000 |
+ |
Applicable
Tax Base |
= |
Your Property
Tax* |
The following are sample calculations for the
various property classes with a full value assessment of 100,000.
| Category |
City
Mill |
School
Mill |
Total Mill Rate |
Base Tax |
C.W. Base Tax |
|
Effective Tax Rate
on $100,000
Full Value Assessment* |
| Uniform Mill Rate |
23.75 |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| Vacant Residential Land |
21.00 |
10.08 |
31.08 |
|
$100.00 |
|
$2,275.60 |
| |
|
|
|
|
|
|
|
| Multi-unit 4-plex |
5.20 |
10.08 |
15.28 |
$3180.00 |
$100.00 |
|
$4,349.60 |
| |
|
|
|
|
|
|
|
| Residential/Condominium |
5.20 |
10.08 |
15.28 |
$795.00 |
$100.00 |
|
$1,964.60 |
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| Industrial Mill Rate |
28.50 |
12.25 |
40.75 |
|
$100.00 |
|
$4,175.00 |
| Commercial Mill Rate |
28.50 |
12.25 |
40.75 |
|
$100.00 |
|
$4,175.00 |
| Business Improvement District |
29.05 |
12.25 |
41.30 |
$200.00 |
$100.00 |
|
$4,430.00 |
| Church Halls and Misc. |
21.00 |
12.25 |
33.25 |
|
$100.00 |
|
$3,425.00 |
*Note: $100,000 residential = Taxable Assessment
$70,000
Where does my 2010 tax dollar go?
|
