Changes are Coming to Property Assessments 2021 is the final year of the current three-year cycle of property assessments in St. John’s. Beginning in 2022 all property assessments will be in effect for two years, rather than three. This summer, property owners in St. John’s will receive an assessment notice of the estimated market value of the property. This value will be used to determine your property tax bill for both 2022 and 2023. There are many details on your property assessment notice; some of the most important items are:
Base Date For the purpose of assessment and taxation, the City of St. John’s must determine the market value of all property within the city as of a single date, known as the base date. The base date for the 2022 assessment notice is January 1, 2020.
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CITY GUIDE | SPRING 2021
Assessors will determine the market value of every property as of this date. This market value is a retrospective (historical) value, not a current value. When reviewing your assessment notice it is important to know this represents what the property is worth as of January 1, 2020 - not what the property is worth today.
Assessment Value The value indicated on the assessment can be broken down into categories: • • • •
Vacant land Residential Realty Commercial Realty Exempt
