84% of you told us annual municipal property tax hikes are taking a toll on your business.
On February 3rd, 2020 Premier Scott Moe announced that municipal revenue sharing for Saskatchewan municipalities will increase to a record $278 million in 2020-2021. We recognize the need for stable, predictable revenue sharing for municipalities, but this shouldn't automatically translate into annual property tax hikes. Given that business owners are already dealing with a number of cost pressures, municipal leaders must commit to hold the line on property taxes to give your business some certainty and much-needed relief.
Municipal revenue sharing program will increase to $278 million in 2020-21:
Municipal revenue sharing is increasing by $27 million over last year (a nearly 11% increase and almost a 119% increase from the 2007-08 fiscal year). The Government of Saskatchewan’s municipal revenue sharing program is based on three quarters of one point of the PST revenue collected from the fiscal year two years prior to the current year.
Did you know Saskatchewan cities received 147% more in revenue sharing in 2019-20 since 2007-2008?