New Assessments Being Mailed to Property Owners This Week in St. John's
The City of St. John’s has begun the process of mailing assessments to residential and commercial property owners.
Next year will be the first year in a new two-year assessment cycle - mandated by the Provincial Government with the goal being that assessed values be more reflective of market values than the previous three-year cycle.
Assessments determine the market value of properties as of a “base date.” This ensures that each property within the city is treated uniformly with all properties being assessed as of the same date.
The base date for the new assessment cycle is January 1, 2020.
Mil rates for 2022 and 2023 have not yet been set, and the City is preparing a plan for budget engagement to begin this summer.
The City’s last mil rate increase was in 2019; anticipated increases in 2020 and 2021 were avoided.