Time is running out to get property taxes paid. Tax notices went out around Moose Jaw back in the spring and June 30th is the deadline, that's this Friday.

You can drop off you payment to City Hall by 5pm Friday, drop them in the mail before Friday, place them in the drop box or pay online or at the bank in advance. Late payments will be subject to penalties.

Councillors had started the budget process with a need for a 9% tax increase, worked their way down to less than 2% and then the provincial budget dropped, erasing nearly all of their work.  When it was all said and done, councillors approved a 6.24% mill rate increase.

"The average home in Moose Jaw is a little over $200,000 (of assessed value)." explained Finance Director Brian Acker. "For the average home in Moose Jaw, that impact of the 6.24% property tax increase would be approximately $75."

Breaking it down further, $43 of that is because of provincial budget cuts, $20 is for cast iron water main replacement and that would leave $12 for general city operation. There is also a 15% increase to water and 6% increase for sewer rates that were approved in the budget.

This is also a re-assessment year so your tax bill is going to look different than normal. Every four years, properties are assessed to try and determine their value. Acker explains that figure is then used to calculate and this year, there was a large jump in property values.

"The thing to remember is this happens every 4 years", Acker said, "so it is usually a fairly significant increase from 4 years ago. In this case our commercial properties are going up about 42% and likewise, so are residential."

However that doesn't mean that an individual's property taxes will go up by over 40%. Acker says the easiest way to explain it is to compare your re-assessment to the average. If your property value increase 42%, your taxes should stay the same as last year until council finalizes the budget. If your property went up by more than the average, then your taxes will increase because of assessment.