It’s time for the City of Swift Current to update its assessment inventory through revaluation, but it may not mean tax increases for most residents.
“Our current housing valuations are based on 2006 numbers, so we just need to do some housekeeping,” said Mike Kehler, City Assessor. “Revaluation updates our inventory so that our housing valuations are reflected more accurately.”
Revaluation is a standard procedure that is undertaken by municipalities. It is meant to better reflect the real estate market values since the last revaluation. This process doesn’t generate any additional revenue for the City.
“We won’t know if residents will see an increase in their taxes until after budget occurs in spring,” said Kehler. “We just want to make residents aware of the process.”
There are other factors that will determine whether an individual’s property taxes will see an increase, including the mill rate and any budget related tax increase.
Residential property owners were invited to attend a Revaluation Open House at City Hall on Wednesday, while Commercial property owners are invited to attend a Revaluation Open House at City Hall on Jan. 29 from 1 p.m. to 4 p.m.