A property tax reassessment does not move with the market in real time, so a homeowner can see a jump in their bill even in a year when their home's resale value barely moved, since the City of Saskatoon's assessment cycle runs on its own schedule rather than tracking month to month sales.
Mortgage renewal is the sharpest cost shock for many owners, since a mortgage taken out five years ago at a much lower rate renews into today's rate regardless of how much equity has built up, and Canadian mortgages compound semi-annually, which changes the real cost of a rate increase more than a simple percentage difference suggests.
Joel Dyck helps homeowners weigh whether rising carrying costs make this the right year to sell rather than renew and hold. Get your hand-reviewed valuation from Joel Dyck.