Province finalizes education property tax cut

The provincial government has announced another cut to the education portion of property tax.

Finance Minister Ken Krawetz told delegates at the Saskatchewan Association of Rural Municipalities (SARM) convention in Saskatoon, that agricultural mill rate will be reduced from 7.08 to 3.91.

“Today's announcement completes the largest education property tax cut in the history of Saskatchewan,” said Krawetz in a news release.

In 2009, the government changed the funding formula which reduced the burden of education property tax for all ratepayers.

Krawetz said once implemented, education property tax will have been cut by 80 per cent for agricultural land owners.

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The new mill rate will take effect following the release of the provincial budget slated for Mar. 23.

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