How Taxes are Calculated

Established mill rate factors so that there is no tax shift between residential and non-residential properties.

1. Mill Rate Factors applied to local property classes as follows:
a) Agricultural:              1.00
b) Residential:               0.82
c) Commercial and Industrial: 2.15
2. Base Tax applied to local property classes as follows:
a) Residential land with improvements: $0,900.00
b) Commercial land with improvements:  $1,600.00
c) Residential classed land only:      $0,500.00
d) Commercial classed land only:       $0,750.00
3. Base Tax (Infrastructure) applied to local property classes as follows:
a) Residential: $250.00
b) Commercial:  $250.00

Each year, the Town sets the tax rate, also called mill rate. A mill equals 1/10th of one cent. All residential and commercial properties in Gull Lake are assessed. Currently, the mill rate and mill rate factor are multiplied by the taxable assessment to determine taxes then Base Tax (1) and Base Tax (2) are added to determine total municipal taxes.  The municipal taxes are added to the school taxes to determine your total taxes.  See the formula below.

[(Taxable Assessment x  Mill Rate x Mill Rate Factor (1)) + Base Tax (2) + Base Tax (3)] + [School Tax] = Taxes
                          1000

For a home with a fair value assessment of $200,000, the taxable assessment would be $160,000, at the 2017 mill rate of 3.5 (town) and 4.12 (public school) the total taxes would be:

[($160,000 x 3.5 x 0.82) + $900 + $250) (municipal)] + [($160,000 x 4.12)(school)]
            1000                                              1000

$1,609.20 (municipal) + $659.20 (school) = $2,268.40

Please Note: As of January 2013 discounts are no longer applicable to Education Property Tax. For more information on Education Property Tax go to Saskatchewan Education Property Tax System

Return to Assessment and Tax