Tax revaluation results have been released and the Town of Carlyle has seen that the property assessment values have seen a reduction across the board.
The Saskatchewan Assessment Management Agency (SAMA) carries out a reassessment every four years. The reassessment was carried out in 2019 and the results were released earlier this year.
These updated property value assessments are what are used to calculate property taxes. When these values go down, the town's ability to generate money from property taxes is affected. With these updated values, the town council uses the budgeting process to come up with scenarios that will allow the town to cover its annual expenses and to fund its projects for this year.
Throughout this process, the council makes sure to enact a scenario that not only allows the town to generate necessary dollars to fund itself, but also to keep taxes at a reasonable figure.
The mill rate has seen an increase from 8.0 to 8.7. Despite this slight increase, most business owners and residents of Carlyle should see a decrease in their property tax amounts for 2021.
An attestment of this decrease in property taxes can be seen in, for example, multiple business owners. One of such business owner is Brian Rutten, owner of The Office Bar and Grill.
Rutten has seen a 25 per cent decrease in his business property taxes for this year, a figure which is sure to have a positive impact on his business in the long run.
“It just helps me stay alive a little bit longer.” says Rutten.
With COVID-19 regulations deciding how long alcohol can be served, The Office has taken a hit. These shorter hours have caused the business sales to decrease. As business capacities are also cut, businesses like Rutten’s have been forced to lay off staff members as a result.
“We have been very thankful for the locals, they have been supporting us very well through take-out.” says Rutten.
It seems that the decrease in taxes for individuals and business owners comes at the most ideal of times. As society and the economy begins its journey to recovery after this dark period that has been experienced, this tax decrease shines a bit of light.
Just as this decrease has helped Rutten, it is sure to help others within the community in getting their feet back solidly underneath them. At the very least, it will give them the strength needed to overcome hurdles that still remain.