Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What is Saskatoon's new second-home tax?

There is no second-home tax in Saskatoon. The City of Saskatoon taxes every residential property at the same 80 percent residential percentage of value regardless of whether it is your primary residence, a secondary property or a rental, with no additional municipal surtax for a second home.

That puts Saskatchewan in a different position from provinces like British Columbia, which has adopted a speculation and vacancy tax targeting underused homes in specific regions. Saskatchewan has not adopted a comparable provincial tax, and the City of Saskatoon has not layered a municipal one on top of the standard property tax.

Where a second Saskatoon property does carry extra tax exposure is on the income side rather than the property side. Rental income is taxable, and the Canada Revenue Agency treats the sale of a non-principal residence differently for capital gains than the sale of your main home.

If you are deciding whether to keep, rent or sell a second Saskatoon property, the property tax line is rarely the deciding factor. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

Still have a question?

Ask Joel directly. No form, no obligation, and a real answer even when the answer is that now is not the time to sell.