Released on January 6, 2005
The Government of Saskatchewan is following through on its commitment to provide $110 million in education property tax relief. All owners of Saskatchewan property will see a tax credit on their property tax notices issued by municipalities in 2005 and 2006."The Government is keeping its commitment by dedicating 30 per cent of the one-time equalization payment from the federal government to provide a provincial credit on the education portion of property tax," Government Relations Minister Len Taylor said. "The credit will amount to $110 million over a two year period."
Properties eligible for the program include agricultural, residential, multi-unit residential and commercial/industrial. The average tax credit will be approximately 8 per cent of the education property tax levy with a cap of $2,500 on commercial/industrial and multi-unit residential properties.
"This education property tax credit is a short-term solution. We will continue to work with stakeholders to determine a long-term solution that considers the impact of revaluation, restructured school divisions and the new school operating grants system," Taylor said. "It is expected that the education property tax relief will be flowed through to the individual taxpayers and that local governments will ensure taxpayers realize the benefit of this program."
The departments of Government Relations and Learning will establish a technical committee with municipalities and school divisions to work out the details of the credit program administration and implementation.
School divisions will receive compensation from the Department of Learning for reduced education property tax revenues as a result of the credit program.
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For More Information, Contact:
| Maureen Boyle Government Relations Regina Phone: (306) 787-5959 | Jacquie McLean Learning Regina Phone: (306)787-5609 |