Budgets this size are set locally: council reviews department requests, weighs provincial transfer amounts, and decides the mill rate for the coming year in public meetings, not in a process built to hit a specific deficit target measured in the billions.
Saskatchewan also taxes residential property at 80 percent of assessed value rather than the full figure, which is part of why the base a Saskatoon mill rate applies against is smaller than the number implied by that question in the first place.
If holding costs while you get ready to sell are the real concern, the City of Saskatoon's published budget and mill rate history are the numbers to check, not a deficit figure that does not apply here. Get your hand-reviewed valuation from Joel Dyck.