Property owners might be hesitant to give sensitive information about their land to the provincial agency that assesses property values, but the organization keeps the data private during and after the valuation process.
The Saskatchewan Assessment Management Agency (SAMA) is a provincially regulated organization that assesses roughly 800,000 properties throughout the province, including about 15,000 properties in Moose Jaw.
The agency looks at market conditions every four years to determine what value to give classes of properties, such as commercial or rental. It also reviews properties’ information and uses that data in conjunction with what’s happening in the real estate markets to form the valuation.
Two methods are used to assign values to properties: mass appraisal and assessments, explained Darwin Kanius, technical standards and policy manager of quality control at SAMA’s Moose Jaw office, during an online presentation about the organization’s activities on May 20.
Mass appraisals are about preparing assessments for groups of properties established upon a base date using standard appraisal methods, employing common data, and allowing for statistical testing. Conversely, SAMA uses computer software to model hundreds of property sales and thousands of data points to help develop the models to replicate the market.
“We know that markets are imperfect and we try to do our modelling and interpret this data — not just the sales,” said Kanius. “We’re only as good as the data at our disposal, but with … the property owners that rent property, that buy and sell property, you are part of this process, and we appreciate your co-operation and help when we ask for this information.
“We take it seriously to protect that data that you provide us.”
SAMA does not value people’s personal property and excludes that information if it’s given during the assessment process, he added. The agency is charged with valuing the land, its buildings, and any improvements to those structures.
Besides asking for income and expense data, SAMA also asks for information about property sales, explained Nancy Wollner, manager of SAMA’s Moose Jaw office.
Owners of commercial properties should expect the agency to call and collect more information while it will come to inspect any property that has been sold. The agency will also ask if an appraisal has been made and whether the owner will share that information since it helps with valuations.
SAMA will not consider any sales after the base data of Jan. 1, 2019 for the forthcoming four-year assessment cycle of 2021 to 2024. Sales after that listing will be included in the next cycle.
There are provisions in provincial legislation that allows SAMA to ask for data about structures, property transfers, sales, and revenues and expenses, Wollner said. That same legislation allows for penalties to be levied if that data is not provided.
“We don’t want to go there, but … if you don’t provide us the information we ask for, you could lose your right to appeal your property,” she continued. “That’s a really big thing. … When you’re providing the information, you’re helping us help you because the more information we have, the more accurate we’ll have your valuation to what the market is saying.”
Some people are concerned about filling out the forms since they don’t want their competitors to see the data, Wollner said. SAMA keeps that information confidential and does not release any income or expense information unless the courts order it. Even if that occurs, the agency hides the information to ensure the property remains anonymous.
“SAMA has been successful in the past by keeping that information confidential when we were challenged by the courts,” she added. “So, we want to provide you with some confidence there.”
