It’s a property revaluation year in Regina, here’s what that means

In December alone, there were 776 home sales in Saskatchewan, with a total of 16,119 throughout the year. (Mick Favel / CTV News)

The City of Regina will be revaluing properties in 2025 with notice letters already mailed out for some. Revaluing properties helps the city determine property tax rates for the upcoming fiscal year.

Assessment letters began to be mailed out in January.

Provincial legislation requires that the assessed value of properties be updated every four years.

“This is because property values change over time due to changing market conditions,” the City of Regina says on its website.

Preliminary values for all properties were released by the city in November last year. They can be seen on the city’s website.

Determined values are then used to help calculate property taxes for 2025, which will be finalized when the city approves its next budget in March.

• 14 percent in tax increases part of proposed 2025 Regina budget

According to the city, an increase in property value does not guarantee a rise in property taxes as it is just one formula factored in to determining a homeowner’s property taxes for the fiscal year.

“Individual property taxes may increase or decrease if that property’s assessment changes more than the rest of the city on average,” the city says on its website.

The city says that residents also have a 60-day window to appeal the new assessed value of their property before council determines property taxes in March.

New property tax amount notices will be mailed out in May.

See your property’s value and estimated new property taxes here.